According to a new survey by the Office of the Comptroller of the Currency shows that more banks are finally easing up on their standards, which should lead to more buyers being able to qualify for a mortgage.
“This year’s survey showed the continued normal progression toward stable or easing underwriting standards as the economic environment stabilizes,” says John Lyons, chief national bank examiner at the OCC. “Examiners will be focusing on underwriting standards as banks ease standards to improve margins and compete for limited good loans.”
This is welcome news for the real estate industry, especially in view of the fact that housing affordability is at an all-time high.
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