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Leslie Flynne, a senior vice president at the Houston-based company Reverse Mortgage Solutions, said servicers and lenders are struggling to meet strict timelines hud set for them to deal with.
The Market Composite Index, a measure of mortgage loan application volume, decreased 3.4 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 4.
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Search current mortgage rates in the Houston area, plus get tips on buying a home and calculate your monthly payments on Chron.com and in the Houston Chronicle.
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Baby boomers in Houston are the most burdened with non-mortgage debt, with a median balance of $31,626. On average, 43 percent of that is consumed by auto loans and another 33 percent is on credit.
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