Mortgage lenders set higher standards for the average borrower

9/28/12 By Kenneth R. Harney – The Washington Post –
With 30-year mortgage rates hitting new lows and recent borrowers’ payment performance the best by far in decades, you’d think that banks and other lenders might be loosening up on their hyper-strict underwriting standards.
But new national data….

WHY IS THE HOUSING RECOVERY & ECONOMY SO SLUGGISH? MANY LENDERS RAISED MINIMUM CREDIT SCORE REQUIREMENTS TO 750 LEAVING 4 OF 5 BORROWERS DISQUALIFIED.  SO WHY DID WE BAIL OUT THE BANKS? READ REST OF ARTICLE FOR ANSWERS
Paul and Debbie

http://www.washingtonpost.com/realestate/mortgage-lenders-set-higher-standards-for-the-average-borrower/2012/09/27/74ef973a-0676-11e2-a10c-fa5a255a9258_story.html