{"id":7725,"date":"2015-04-08T12:16:35","date_gmt":"2015-04-08T12:16:35","guid":{"rendered":"http:\/\/www.anthonydidonato.net\/wordpress\/?p=7725"},"modified":"2015-04-08T12:16:35","modified_gmt":"2015-04-08T12:16:35","slug":"4-million-missing-mortgages-study-says","status":"publish","type":"post","link":"http:\/\/www.anthonydidonato.net\/wordpress\/4-million-missing-mortgages-study-says\/","title":{"rendered":"4 Million Missing Mortgages, Study Says"},"content":{"rendered":"<h2>4 Million Missing Mortgages, Study Says<\/h2>\n<div id=\"attachment_7726\" style=\"width: 266px\" class=\"wp-caption alignnone\"><a href=\"http:\/\/www.anthonydidonato.net\/wordpress\/wp-content\/uploads\/2015\/04\/ID-100140529.jpg\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-7726\" class=\"size-full wp-image-7726\" src=\"http:\/\/www.anthonydidonato.net\/wordpress\/wp-content\/uploads\/2015\/04\/ID-100140529.jpg\" alt=\"4 Million Missing Mortgages, Study Says.  Image courtesy of ponsulak \/ FreeDigitalPhotos.net\" width=\"266\" height=\"400\" srcset=\"http:\/\/www.anthonydidonato.net\/wordpress\/wp-content\/uploads\/2015\/04\/ID-100140529.jpg 266w, http:\/\/www.anthonydidonato.net\/wordpress\/wp-content\/uploads\/2015\/04\/ID-100140529-200x300.jpg 200w\" sizes=\"auto, (max-width: 266px) 100vw, 266px\" \/><\/a><p id=\"caption-attachment-7726\" class=\"wp-caption-text\">4 Million Missing Mortgages, Study Says. Image courtesy of ponsulak \/ FreeDigitalPhotos.net<\/p><\/div>\n<p>Getting a mortgage was so difficult during 2009-2013 that millions of potential home buyers were shut out of the market. In fact, the Urban Institute has attempted to put a number on just how many potential buyers may have been shut out by tight credit standards. Its estimates: 4 million missing loans over the past five years due to lenders\u2019 stringent underwriting and borrowers with less than perfect credit who were not able to qualify for a loan.<\/p>\n<p>The Urban Institute estimates that the number of &#8220;missing&#8221; loans grew from 0.50 million to 1.25 million annually between 2009 and 2013. African American and Hispanic families have been particularly affected, the study says. In 2013, the strict credit standards in place resulted in 50 percent to 38 percent less in lending to African Americans and Hispanic borrowers. For comparison, the strict standards reduced lending to white borrowers by about 31 percent. It did not reduce lending to Asian families at all, according to the study.<\/p>\n<p>Tight underwriting prompted a rise in cash sales during that time, the study authors note. &#8220;We believe the rise in cash sales share reflects both limited credit availability and more limited demand for home ownership,&#8221; the study suggests. The share of cash sales rose from 18 percent in December 2001 to 38 percent in 2013.<\/p>\n<p>&#8220;A tight credit box has severe consequences,&#8221; according to the Urban Institute\u2019s report, &#8220;The Impact of Tight Credit Standards on 2009-13 Lending.&#8221; &#8220;It means that fewer families will become home owners at an opportune point in the housing market cycle, depriving these families of a critical wealth-building opportunity. A tight credit box slows the housing market recovery by limiting the pool of potential borrowers. Ultimately, tight credit hinders the economy, as it slows all the associated economic activity that comes with home buying, such as furniture purchases, landscaping, and renovations.&#8221;<\/p>\n<p><em>Source: &#8220;The Impact of Tight Credit Standards on 2009-13 Lending,&#8221; The Urban Institute (April 2015)\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>4 Million Missing Mortgages, Study Says Getting a mortgage was so difficult during 2009-2013 that millions of potential home buyers were shut out of the market. In fact, the Urban Institute has attempted to put a number on just how many potential buyers may have been shut out by tight credit standards. Its estimates: 4 &hellip; <\/p>\n<p><a class=\"more-link btn\" href=\"http:\/\/www.anthonydidonato.net\/wordpress\/4-million-missing-mortgages-study-says\/\">Continue reading<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16,8],"tags":[5,32,4,9],"class_list":["post-7725","post","type-post","status-publish","format-standard","hentry","category-news","category-real-estate-tips","tag-anthony-didonato","tag-news","tag-real-estate","tag-tips","item-wrap"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>4 Million Missing Mortgages, Study Says - Real Estate Agent and Sales in PA - Anthony DiDonato Broomall, Media, Delaware County and surrounding areas in Pennsylvania<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.anthonydidonato.net\/wordpress\/4-million-missing-mortgages-study-says\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/4-million-missing-mortgages-study-says\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/4-million-missing-mortgages-study-says\\\/\"},\"author\":{\"name\":\"admin\",\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"headline\":\"4 Million Missing Mortgages, Study Says\",\"datePublished\":\"2015-04-08T12:16:35+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/4-million-missing-mortgages-study-says\\\/\"},\"wordCount\":339,\"publisher\":{\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"image\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/4-million-missing-mortgages-study-says\\\/#primaryimage\"},\"thumbnailUrl\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/wp-content\\\/uploads\\\/2015\\\/04\\\/ID-100140529.jpg\",\"keywords\":[\"Anthony DiDonato\",\"News\",\"Real Estate\",\"tips\"],\"articleSection\":[\"News\",\"Real Estate Tips\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/4-million-missing-mortgages-study-says\\\/\",\"url\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/4-million-missing-mortgages-study-says\\\/\",\"name\":\"4 Million Missing Mortgages, Study Says - Real Estate Agent and Sales in PA - Anthony DiDonato Broomall, Media, Delaware County and surrounding areas in Pennsylvania\",\"isPartOf\":{\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/4-million-missing-mortgages-study-says\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/4-million-missing-mortgages-study-says\\\/#primaryimage\"},\"thumbnailUrl\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/wp-content\\\/uploads\\\/2015\\\/04\\\/ID-100140529.jpg\",\"datePublished\":\"2015-04-08T12:16:35+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/4-million-missing-mortgages-study-says\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/4-million-missing-mortgages-study-says\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/4-million-missing-mortgages-study-says\\\/#primaryimage\",\"url\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/wp-content\\\/uploads\\\/2015\\\/04\\\/ID-100140529.jpg\",\"contentUrl\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/wp-content\\\/uploads\\\/2015\\\/04\\\/ID-100140529.jpg\",\"width\":266,\"height\":400,\"caption\":\"4 Million Missing Mortgages, Study Says. 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Skilled, smart and enthusiastic about his work and his life, Anthony DiDonato has the appealing combination of business sense and people skills gives him an edge in an industry that demands both. Educated at Drexel University with a dual major in accounting and finance and minors in management and psychology Anthony DiDonato offers over 25 years of experience in the real estate industry. He has been a real estate investor since 1985 and a member of H.A.P.C.O. (Landlord Association). He became a licensed Realtor in 1992 and a member of the Local, Pennsylvania and National Associations of Realtors. Anthony DiDonato is also a member of the Computerized Multiple Listings, (MLS) and Internet Marketing Programs. In 1997 Anthony DiDonato became Century 21 All-Elite, Inc. Corporate Secretary. Anthony DiDonato believes in taking his profession to the highest level of quality service. 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Skilled, smart and enthusiastic about his work and his life, Anthony DiDonato has the appealing combination of business sense and people skills gives him an edge in an industry that demands both. Educated at Drexel University with a dual major in accounting and finance and minors in management and psychology Anthony DiDonato offers over 25 years of experience in the real estate industry. He has been a real estate investor since 1985 and a member of H.A.P.C.O. (Landlord Association). He became a licensed Realtor in 1992 and a member of the Local, Pennsylvania and National Associations of Realtors. Anthony DiDonato is also a member of the Computerized Multiple Listings, (MLS) and Internet Marketing Programs. In 1997 Anthony DiDonato became Century 21 All-Elite, Inc. Corporate Secretary. Anthony DiDonato believes in taking his profession to the highest level of quality service. 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