Mortgage Lenders Tighten Screws on Credit in Echo of 2008

Bloomberg, May 8, 2020–Joe Light
Mortgage rates are at record lows, but borrowers hoping to take advantage are running into the toughest loan-approval standards in years. Mortgage Bankers Association Chief Economist Mike Fratantoni said the tighter underwriting is partly in response to policies put in place by Fannie and Freddie that make it expensive or risky to make certain kinds of mortgages.