DESPITE RECOVERY, MANY FIND HOME LOANS STILL HARD TO GET

DESPITE RECOVERY, MANY FIND HOME LOANS STILL HARD TO GET
Source: NPR

While trouble in the housing market has quieted down seven years after the housing crash, there are still prevalent concerns about the ability of average families to obtain a home loan. Many banks have pulled back on mortgage lending after being hit with huge legal settlements over loans that went bad. Mel Watt, the director of the Federal Housing Finance Agency, said the bottleneck is with the banks due to overly tight lending standards.