credit card limits affecting your home loans

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Shano said:
I would suspect that greater competition in the home loan sector may have caused some relaxation in lending criteria.
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Competition has meant that financial institutions have accepted greater risk in order to secure market share. Before the loosening of regulations governing mortgage lenders, one wouldn't really have found "low-documentation" lenders.

Interestingly enough, reports indicate that these low-doc lenders are vigorously persuing mortgagees in default, and selling houses from under them.

Accepting risk only goes so far before it starts costing money!
 
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