Senior Loan Officers Report Little Change in Standards as Demand Rises

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Posted To: MND NewsWire

Small numbers of domestic banks responded to the Federal Reserve's January survey of senior loan officers with indications that they have eased their credit standards across major loan categories over the last three months. Domestic banks reported that demand for business loans, prime residential mortgages and auto loans had increased while demand for other types of loans was essentially unchanged. U.S. branches and agencies of foreign reported little change in their lending standards but a net increase in demand. Sixty-five banks, almost evenly divided between large banks (those with total domestic assets of $20 billion or more) and other banks responded to the survey question about prime mortgages. The majority, 92 percent of large banks and 88 percent of other banks, reported that their...(read more)

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Source: http://www.mortgagenewsdaily.com/02042013_sr_loan_officer_survey.asp

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