UK mortgage lenders are offering loans to “almost prime” and “complex prime” borrowers with “minor historic credit issues” who may have experienced financial “blips.” They don’t use the word subprime. Three years after defaults on US subprime mortgages sparked the worst financial crisis in almost 80 years, General Electric’s GE Money unit and Investec’s Kensington division are once again lending to British customers rejected by mainstream banks. This time, they say they’re offering less money to clients with better credit histories.
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HousingWire on Tuesday announced the launch of the HousingWire Mortgage Rankings, a new performance intelligence product designed to provide a clear, data-driven view of mortgage origination activity across the U.S. The rankings benchmark mortgage originators based on observed production, offering a standardized view of performance across geographies, loan types and channels. Historically, the mortgage industry has lacked […]