The debt-to-income ratio of credit union members applying for mortgage modifications during the last year was 50.5%, according to NAFCU's Flash Report released today.
The average debt-to-income ratio of members whose applications were approved was 46.5% during that time period. The average ratio for mortgage originations was 28.2%.
The most popular form of mortgage modifications was interest rate adjustment, followed by extensions of the maturity date and loan consolidation.
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