are mortgages still too easy?

[sniglet]

[mukoh]

Sniglet this is not a rule it is RARE, especially with Wells.

And that mortgage was in January. Since January every lender has tightened up weekly on their guidelines.

At this moment top lenders i.e. Chase, Wells, B of A, etc., are only going 3% DOWN, 3 Months reserves, full doc only.

[sniglet]

[mukoh]

Naa sniglet not yet. More like 1988 January 25th.

[SeattleMoose]

My landlord is a Commercial RE broker and when I asked him if it was harder for people to get commercial loans "now" he said that since both commercial and residential use the same lenders, he is seeing a real tightening of credit and marginal developers that used to be able to obtain loans, can no longer do so. He told me he expects credit to continue to tighten.

[sniglet]

[garth]

Until banks have to carry loans on their balance sheets again, I don't see how things revert back to 1987 standards.

[Charles Dean]