More Americans keeping up with mortgage payments

According to the Mortgage Bankers Association the number of Americans who are able to keep up with their mortgage payments has recently hit a twenty-year high. Analysts attribute this to the strong economy and the more rigid underwriting rules enacted in 2010 that make it more difficult for financially strapped individuals to attain a mortgage.

However, skeptics point to the fact that many lenders are easing up on their standards as the average credit ratings of borrowers is already declining according to a new study by FICO.

In addition, Fannie Mae has eased it’s requirements on debt-to-income and the FHA is now approving debt-to-income rations above 50 percent.