Posted To: Pipeline Press

Why do all underwriters have soft hair? Because they over-condition! (How do your underwriters feel about bitcoin? Brokers up in Canada are now accepting eCurrency .) Underwriters are charged with analyzing the 5 C’s of credit (character, capacity, capital, collateral, and conditions) and hope that none of their borrowers go bankrupt. Surprisingly, bankruptcy filings by consumers under Chapter 7 were down 22% last year , despite COVID, compared with 2019, while individual filings under Chapter 13 fell 46%. After holding above 50,000 filings a month in 2019 and in the first quarter of 2020, bankruptcy filings have remained below 40,000 a month since last March when the pandemic hit. Say what you will about it, I am sure the stimulus money helps. The credit “black box” is good…(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

Published On: April 13, 2021 / Categories: Mortgage News /

Subscribe To Receive The Latest News

Curabitur ac leo nunc. Vestibulum et mauris vel ante finibus maximus.

Thank you for your message. It has been sent.
There was an error trying to send your message. Please try again later.

Add notice about your Privacy Policy here.