Lawler: The More Things Change ...

From housing economist Tom Lawler: Below is an excerpt from a news story about mortgage credit standards. I've deleted the names of people quoted in the story, and I've left blank two references to the time periods being discussed (A and B). Read this excerpt, and before looking below, and try to guess what year "A" refers to and what period "B" refers to. If you have not been in a lender's office lately but plan to apply for a mortgage soon, brace yourself for surprises. Gone are the breezy days when some lenders routinely stretched debt-to-income ratios or overlooked past credit problems.......(read more)

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