But here’s what placing the two mortgage giants in conservatorship doesn’t do: It doesn’t loosen credit and underwriting standards, which have been tight for the better part of a year. So if you didn’t qualify for a mortgage last week, your chances this week aren’t much better.
Lending standards aren’t tight. They are still pretty loose (you can still get a no-down loan from FHA). Lending standards are just not nearly as lose as they used to be. Hopefully the government won’t give in and loosen standards further.
