Legal Seminar, Chicago, IL

CREDIT AVAILABILITY FOR I I I I BYMSA FOR PURCHASE LOANS CREDIT BOX Credit has been tight for all borrowers with less-than-stellar credit scores- especially in MSAs with high housing prices. For example, the mean origination FICO for borrowers in San Francisco-Redwood City-South San Francisco, CA is 774. Across all MSAs, lower average FICO scores tend to be correlated with high average LTVs, as these MSAs rely heavily on FHA/VA financing.

Origination FICO and LTV

Mean origination FICO score

Mean origination LTV

Origination FICO

Origination LTV

780

100

770

95

760

90

750

85

740

80

730

75

720

70

710

65

700

60

Boston MA

Pittsburgh PA

Columbus OH

Kansas City MO-KS Philadelphia PA Newark NJ-PA

St. Louis MO-IL

Cleveland-Elyria OH

Cincinnati OH-KY-IN

Dallas-Plano-Irving TX

San Diego-Carlsbad CA

Fort Worth-Arlington TX

Detroit-Dearborn-Livonia MI Phoenix-Mesa-Scottsdale AZ

San Jose-Sunnyvale-Santa Clara CA Oakland-Hayward-Berkeley CA Seattle-Bellevue-Everett WA

Denver-Aurora-Lakewood CO

Miami-Miami Beach-Kendall FL San Antonio-New Braunfels TX

Tampa-St. Petersburg-Clearwater FL Houston-The Woodlands-Sugar Land TX Orlando-Kissimmee-Sanford FL Atlanta-Sandy Springs-Roswell GA

Baltimore-Columbia-Towson MD

Nassau County-Suffolk County NY

Charlotte-Concord-Gastonia NC-SC Las Vegas-Henderson-Paradise NV

Los Angeles-Long Beach-Glendale CA

Riverside-San Bernardino-Ontario CA

Portland-Vancouver-Hillsboro OR-WA Minneapolis-St. Paul-Bloomington MN-WI

Chicago-Naperville-Arlington Heights IL

Sacramento--Roseville--Arden-Arcade CA

New York-Jersey City-White Plains NY-NJ

Washington-Arlington-Alexandria DC-VA-MD-WV

San Francisco-Redwood City-South San Francisco CA

Sources: Black Knight, eMBS, HMDA, SIFMA and Urban Institute. Note: Includes owner-occupied purchase loans only. Data as of March 2019.

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