Arizona Association of Mortgage Brokers
Is the drought over?
Not the drought of the economic recession, but of the trend by banks to keep tightening underwriting requirements?
A recent Federal Reserve survey shows that about one-fifth of U.S. banks tightened lending standards on prime home mortgages in Q-II of 2009. That's down from half in Q-I and down from the highest point of three-quarters a year ago.
Are you seeing signs of new life?
While the new reality (or return to the old days) of tight standards is expected to continue through mid-2010, do you see residential mortgage guidelines leveling off and becoming more consistent? Are you seeing any easing of guidelines?
Share your experience in the comments section below.
Click here for the AP Article
Click here for the Federal Reserve survey
Comments