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It’s About Time


Posted by Non-Hamster on August 13th, 2007

...That this finally started being done.... instead of just throwing money at the thing, there's the beginnings of doing something about it.

FED: BANKS TIGHTENING LENDING STANDARDS

The Federal Reserve reports that a significant portion of the nation's banks have
tightened lending standards on subprime mortgages. It's another indication of the
spreading problems in mortgage lending.

I realize that by tighening these standards, these mortgages are going to be harder to get and I am not a hamster, I know that also means that a lot of people who need money are going to have a harder time qualifying for the loans.  Yet having fewer forclosures would be a big plus right about now.

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