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Quote by Mark Zandi

“Lenders look at potential borrowers from many angles before extending credit: How much of its income will a household need to put into debt repayment? How large is the down payment? Does the borrower have a job with a stable income? What is the borrower's credit score?”

Quote by Mark Zandi

Author

Mark Zandi, born in 1959, is an influential expert in the field of economics. He has extensive expertise in economic forecasting, policy analysis, and financial market research, particularly in the areas of financial crises and macroeconomic analysis. more

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“The average credit score of today's FHA borrowers is higher than the average American household with a score. As it becomes more costly and difficult to get a FHA loan, loans from private mortgage lenders will become more attractive and their market share will grow.”

Today Grows Difficult Share Higher Average Credit Attractive Score Household Loan Mortgage Lenders Borrowers Credit Scores

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“The Bush tax cuts should be extended permanently for families with annual incomes of less than $250,000 and should be phased out slowly for those making more than that. Raising taxes on anyone now, when the economic recovery is so fragile, would be a mistake.”

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“The key to house prices is the share of foreclosure or short sales in the total housing market. When that share rises, house prices will fall, because distressed properties sell for significantly less - currently around 25 percent below non-distressed houses.”

Fall House Share Keys Percent Sells Property Housing Foreclosure Housing Market House Prices

Author:Mark Zandi

“The Obama administration deserves credit for quickly ending the housing free fall. In particular, Obama empowered the Federal Housing Administration to ensure that households could find mortgages at low interest rates even during the worst phase of the financial panic.”

Fall Interest Worst Particular Lows Deserve Rate Financial Credit Administration Panic Household Phases Housing Empowered Mortgage Interest Rate

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“There is no better way to quickly buoy hard-pressed homeowners than helping them take advantage of the currently record low fixed mortgage rates and significantly reduce their monthly mortgage payments.”

Way Hard Helping Records Lows Advantage Rate Fixed Payment Better Ways Mortgage Homeowners Buoys Mortgage Rate

Author:Mark Zandi

“There is plenty of blame to go around for the U.S. housing bubble, but not much of it belongs to Fannie Mae and Freddie Mac. The two giant housing-finance institutions made many mistakes over the decades, some of them real whoppers, but causing house prices to soar and then crater during the past decade weren't among them.”

Made Two Real Past House Mistake Institutions Blame Decades Finance Plenty Giants Bubbles Soar Housing Macs Mae Craters House Prices Housing Bubble

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“Too-easy credit and millions of bad loans made during the U.S. housing bubble paved the way for the financial calamity and Great Recession that followed. Today, by contrast, credit is too tight. Mortgage loans are particularly hard to get, creating a problem for the housing market and the broader economy.”

Way Made Hard Problem Today Easy Millions Economy Creating Financial Credit Bubbles Contrast Housing Loan Calamity Mortgage Recessions Great Recession Housing Market Housing Bubble

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“Every time you find something that doesn't work, you're a step closer to what does work.”

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“There never was a truly great man that was not at the same time truly virtuous.”

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Book:The Essays, Humourous, Moral and Literary: Of the Late Benjamin Franklin

Source: The Essays, Humourous, Moral and Literary: Of the Late Benjamin Franklin

“Failure has been my best friend as a writer. It tests you, to see if you have what it takes to see it through.”

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Author:Markus Zusak