Only 10 percent of lenders loosened loan standardsJune 29, 2012 @ 11:34 am
The housing industry has blamed banks' tight mortgage standards as preventing many potential buyers from being able to purchase a home.
But a new survey by the Office of the Comptroller of the Currency shows that fewer banks are tightening their standards, which may open the doors for more buyers to qualify for a mortgage.
About a quarter of the banks reported tighter underwriting standards for home loans, which is down from 40 percent last year, according to the survey of 87 of the largest banks.
Ten percent of the banks surveyed say they've eased their standards on mortgages, compared to only 8 percent who said that last year.
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