Lenders not risking risky loans

Screen Shot 2015-08-11 at 8.23.22 AMBy Joe Light | The Wall Street Journal

Fannie Mae, Freddie Mac, the Federal Housing Finance Agency and the Obama administration over the past year have tried mightily to expand mortgage access for riskier borrowers.

But despite those efforts, there’s little evidence so far of borrowers with weaker credit making a strong return.

On Tuesday and Thursday, Freddie and Fannie released their quarterly earnings reports. Both companies said that the credit scores of loans that they back are actually higher year-to-date than they were last year. Freddie, for example, says that this year through June the weighted average credit score of loans it purchased from lenders was 751–on a scale of 300 to 850–up from 744 in 2014.

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