AMCAP Mortgage Launches FHA Awareness Efforts in Response to Surging Loan Denial Rate
A report released by the Urban Institute in December, 2014 indicates 43 percent of home loan applicants in American were denied by traditional lenders during 2013, up an estimated 3 percent from just a year earlier. Rejections are said to be based largely on credit score, household income and debt-to-income ratio. This uptick comes as no surprise to the staff of AMCAP Mortgage - North Houston who has watched this trend unfold for quite some time. In response to the...
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