Banks Prepare For Defaults - Mortgage Loans Harder To Get
Banks prepare for defaults - mortgage loans harder to get - Residential real estate credit standards tightened across the board relative to the prior quarter. Watch to learn more about real estate credit standards tightened.
â–¶ VIDEO NOTES
Loan Demand Declines as Credit Standards Tighten in Q4 2022
According to the Federal Reserve Board’s January 2023 Senior Loan Officer Opinion Survey (SLOOS)—conducted for bank lending activity over the fourth quarter of last year—banks reported weaker demand for residential real estate (RRE) loans, home equity lines of credit (HELOCs), and commercial real estate (CRE) loans. Additionally, credit standards tightened across all categories of mortgage loans.
Residential real estate credit standards tightened across the board relative to the prior quarter. Mortgage lending standards tightened the most for non-QM jumbo, QM jumbo, and QM non-jumbo, non-GSE eligible RRE loans. In contrast, GSE-eligible loans saw only a small increase in the net percent of banks reporting tighter standards in Q1 2023 than Q4 2022.
Click here to read more - https://eyeonhousing.org/2023/02/loan-demand-declines-as-credit-standards-tighten-in-q4-2022/
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