About 85 percent of mortgage borrowers have credit scores of 620 or higher. So far — knock on wood — most of these prime customers needn’t worry about being turned down for home loans on the basis of their riskiness as borrowers, so long as they’re willing to let the lender verify their incomes and assets.
Other sections include an analysis of the Federal debate, and “Lender Implosion” which declares that the industry has itself to blame.—MEGHANN MARCO
The Neighborhood Assistance Corporation of America announced that they have set aside $1billion for the refinancing of subprime mortgages, but it’s not nearly enough. From the Washington Post (emphasis ours):
NACA requires that people who ask for its help attend intensive housing counseling workshops. It also assesses the person’s ability to own and maintain a home. It then helps the person obtain a mortgage with one of its partner lending institutions, the biggest ones being CitiGroup and Bank of America.
Part of 
