Why Mortgage Applications Have to Change
Carrington Discusses Lending Trends in ThinkRealty
Although each year millions of homeowners finance and refinance real estate with few problems, the system is increasingly fraught with new complexities and potential pitfalls. In the article “Why Mortgage Applications Have to Change," ThinkRealty editors spoke with industry experts – including Ray Brousseau, President of Carrington Mortgage Services – about current factors and trends that are likely to impact the way lenders do business moving forward.
“In the end, residual income is critical," said Ray. “Residual income is an important characteristic when measuring ability to repay."
Read the article online here.