Since the coronavirus first began impacting the economy, much of the narrative in the mortgage business has been about how numerous lenders are tightening their standards to address the growing uncertainty in the market.
But that trend appears to be reversing, at least at one of the nation’s fastest growing lenders.
Movement Mortgage CEO Casey Crawford told his employees Tuesday evening that the company is undoing many of the recent changes it made to its mortgage lending policies.
Crawford told employees that the company is rolling back many of its overlays and lowering its minimum FICO credit scores on Federal Housing Administration and Department of Veterans Affairs loans to 620.
The move is the opposite of what many lenders have done in recent weeks, with
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