When it comes to mortgage availability over the last few years, many experts have stated that there isn't a bigger problem in the housing market, at least in terms of what's holding back more significant home loan origination volumes. But because of that, and the way in which consumers' interest in applying for and obtaining such financing is declining, it seems that some lenders are doing more to reach out to people who might not be able to obtain a mortgage under current conditions.

Some experts say that the ability to reach borrowers with diminished home loan qualification standards – whether they're carrying slightly low credit scores, have a debt-to-income ratio that's just barely too high, or have other mitigating factors – might be crucial to helping thousands of would-be, willing buyers get into the housing market and help to prop up sagging origination numbers across the country, according to a report from the Los Angeles Times. Now, a small but possibly growing number of lenders – either traditional or emerging – are doing just that, by extending more home loans to consumers who would not meet the stringent qualification standards set by the vast majority of financial institutions these days.

New regulations could be a factor
Of course, the reason that some lenders have likely kept their credit standards tighter than most experts agree is necessary is the fact that the government's relatively new Qualified Mortgage rules are quite significant, the report said. As such, lenders concerned about not being able to get the home loans they extend backed by government-sponsored agencies might be far more hesitant to extend such credit going forward.

But that's where these other lenders, eager to tap a potentially huge market of slightly under-qualified buyers comes in, the report said. These people usually have just one or two things wrong enough with their application that traditional lenders are unwilling to help them, but which more enterprising ones will be more willing to overlook. That could help people who just need to do a little bit more work on their finances to get the kind of assistance they need when trying to buy a home going forward.

That kind of availability could be important in the near future as well, because buyers will want to be able to lock in affordability at the current low levels, before rates and prices start to rise appreciably. That process could begin within just the next few months.