Single Family Rental Out of the Ashes
by Optimization with an Impact (OpIm)
Even if enough time has passed since a foreclosure, many lenders are loath to make loans to borrowers with any blemish on their credit history. The average credit score on purchase mortgage loans sold to Fannie Mae last year was close to 745. In a more typical housing market, like that prior to the housing bubble, the average score was closer to 715. This 30-point difference represents several million potential homebuyers.