I just noticed that it was Sheldon that posted the OP.
I realize you probably are comparing todays data to the previous 10 years or so. But, since you’re in the business… do you think it’s a good thing or bad thing that lending standards are tightening up? You’re on the frontline. Obviously you can make more commissions if more people qualify – but the previous standards were so lax that people were put into homes they couldn’t afford.
Personally I’d rather have more underwriting (even if it means more hoops and stress like in my case) and stricter standards for lending.
(disclaimer to the Piggs – I refinanced with HLS recently. He’s a good mortgage broker, knows his stuff. And my loan did face some extra underwriting scrutiny due to the nature of my property.)
