Banks tighten standards for commercial loans, credit card borrowing. In the most recent Survey on Bank Lending Practices, senior loan officers report that banks tightened lending standards.
Fewer U.S. banks tightened lending standards. JPMorgan Chase & Co. is among the banks that have reduced lending in response to stricter underwriting standards for consumer loans and lower demand.
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Fewer banks tighten mortgage underwriting standards OCC: Underwriting standards ease as bank appetite grows Jon Prior was a reporter with HousingWire through late 2012.
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Banks, building societies and credit unions recorded strong growth in overall lending for property in the December quarter, but approved fewer new loans for. growth in lending to landlords and.
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Nearly 10% of banks said they tightened credit card standards, compared to 2% that eased. While most of the questions on the survey do not change, the Fed typically asks several special questions. One of these focused on credit card debt.
With a freight recession underway, industry experts said creditors are applying tighter standards to many trucking firms..
Already, some personal and student-loan providers are using this type. “It should also be emphasized that banks recognize.
There is a slow continued trend from tightening to unchanged standards with 65 percent of the banks reporting unchanged residential real estate underwriting standards.
Fewer Banks Are Tightening Their Lending Standards. Glimmers of improvement were most notable in commercial lending. The Fed said 40% of the 53 domestic banks it surveyed between March 31 and April 14 said they tightened standards on commercial and industrial loans, a smaller percentage than the 65% that said in January that they tightened standards.
Fewer banks tightened underwriting standards, while a slightly more than last year even eased them, according to a survey conducted by the Office of the Comptroller of the Currency. The agency surveyed 87 of the largest banks, covering 91% of all consumer loans in the U.S. banking system.