Tight Lending Standards Have Erased 4 Million Potential Mortgage Loans
Because lending standards have been ratcheted down so tightly since the beginning of the Great Recession, there have been roughly 4 million “missed” mortgage loans between 2009 and 2013, according to a recent study. The Urban Institute, a policy research group, found that lending standards are tighter today than they were even before the housing boom. If lenders had moved back to their 2001 credit standards when the housing market crashed, there would have been a potential for an additional Read more [...]
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