"The fright among investors is forcing lenders to go back to more-conservative practices that were the norm before the housing boom of the first half of this decade. Many now are focusing on loans to borrowers who are willing to document their income, can make a down payment of at least 5% and have a history of paying bills on time."
Read that here.
Responsible lending makes a comeback. Thank heavens.
Some day folks will look back at the underwriting standards of the last decade and wonder how this foolishness ever got started. I for one am happy sanity is back in style.