80 percent of banks say credit has tightened, mortgages more difficult to get

SOURCE: Mortgage News Feed

Nearly 18 months after it became more difficult to qualify for a mortgage, nearly 80 percent of banks say that lending has tightened, and about 19 percent say the impact is "severe." The American Bankers Association, which conducted a survey about mortgages approved last year, also said the new mortgage rules have hurt the housing market recovery. 

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