Here’s ‘clear evidence’ the credit box is way too tight

Credit Score

Why five years of squeaky clean loans isn’t a good thing

By Brena Swanson | HousingWire

Borrowers who took out mortgages in the past five years are better at paying their mortgages than any other group of mortgage borrowers in history, putting real data to talks that the credit availability pendulum has swung too far the other way since the financial crisis.

Laurie Goodman recently penned a blog for the Urban Institute that brought the severity of the situation into the spotlight, urging that “a near-zero-default environment is clear evidence that we need to open up the credit box and lend to borrowers with less-than-perfect credit.”

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