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Big bank underwriting standards easing, but not for home equity loans, OCC says
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Banking, Financial Stability
Friday, January 31, 2014
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A yearly survey of examiner observations finds that underwriting standards for both commercial and retail loan products continued to ease at the nation’s largest national banks and federal thrifts. However, the Office of the Comptroller of the Currency’s (OCC) 19th annual Survey of Credit Underwriting Practices also found that standards tightened for high loan-to-value (LTV) home equity and conventional home equity loans.
Survey results, released by the OCC on Jan. 30, are a compilation of examiner observations and assessments of credit underwriting standards at 86 of the nation’s largest OCC-supervised institutions. The survey spans the 18-month period ending June 30, and covers loans totaling $4.5 trillion — approximately 87 percent of total loans in the national bank and federal savings association system.
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