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What’s Keeping You from Achieving Sustainable Homeownership?

What’s Keeping You from Achieving Sustainable Homeownership?
LIVE WELL - BUY RODWELL

America was constructed by those who were given the opportunity to reap the bounties of their hard work, building equity in a home and wealth for their families. Just as competition works as a positive force in nearly every other element of our economy, it should also work to remove the barriers that are holding back the next generation of prospective homeowners from achieving what is core to all Americans: the opportunity for sustainable homeownership.

The Federal Housing Finance Agency (FHFA), which regulates Fannie Mae and Freddie Mac, has taken a step in the right direction, recently concluding an RFI event on mortgage credit scoring standards to determine whether to use an updated FICO model (FICO 9), the VantageScore 3.0 model, or a combination of the two. One thing is for certain, however: one of the most effective ways to guarantee a rebound in American homeownership is to nurture credit scoring competition, a solution that is right at our fingertips.

Providing lenders with the option of deciding which brand to use (with practical constraints to avoid “score shopping”) would give credit scoring companies a reason to continue innovating while ensuring scores accurately reflect the ever-changing needs and demographics of America’s future homebuying population. This is especially critical because the Harvard Joint Center for Housing Studies has forecast that approximately 75 percent of new household formations in the period 2015-2035 will be undertaken by minorities, who are often disadvantaged by current scoring models.

Read the report by Phil Bracken at http://dsnews.com/daily-dose/06-04-2018/sustainable-homeownership

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Rodwell Smith

Ever since I can remember, I was always fascinated with my Dad’s and Grandfather’s proficiency very fervently. They could start with a bare piece of land and create a structure for a most appreciative owner to live a better life. RodwellBuildingServices is the career achievement I'm most proud of now. Especially since it started from full utilization of my know-how, every bit of skills and technical capabilities. My life has come full circle to my fathers' as I start with any under improved property and make it into your dream. My niche in the real estate industry is constructed-to-order real estate transactions are my life of services and daily adventures in and around the capital of the free world. RodwellBuildingServices™ benefits keenly customized property sellers, buyers, and users in Washington, DC and up to 50 miles around Maryland and Northern Virginia. We speak to our customers as a Property Improvement and Modernization Builder/Realtor expert. If we haven't provided you with “the real services and the right property for your order,” at any time up to 5 years - we will sell it back from you and help you with a more custom fit.

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