Has the conventional mortgage market thawed? Are conventional lenders finally stepping forward to embrace borrowers with less-than-perfect credit? Nope, says a recent report from mortgage technology firm Ellie Mae. The company’s March Origination Insight Report finds that conventional mortgages are still limited to premium buyers with flawless credit.
Foreclosures rose in January 2012, a sign that banks are beginning to unclog the foreclosure pipeline. According to RealtyTrac Inc., January foreclosure repossessions rose 8 percent from the previous month, and total foreclosure filings were up 3 percent from December.