Sentence examples for more stringent mortgage from inspiring English sources

There is a dangerous scenario, in which the combination of these rather vague pronouncements could cause the housing market to further overheat as thousands of people rush to buy property in order to get under the wire of more stringent mortgage assessments, and beat the spectre of higher interest rates with a fixed-rate mortgage.

"It is hard to say we shouldn't put in more stringent standards on mortgage lending, given what has happened in the past," said Representative Mike Simpson, an Idaho Republican who backed all three measures.

And most lenders stick with even more stringent requirements, limiting a mortgage payment to 28% of a borrower's monthly income.

Sales have gone south amid a wave of foreclosures and more stringent lending standards for mortgages.

Just as the credit crisis has made terms on home mortgages more stringent, land loans, already deemed riskier by lenders, are harder to get and typically carry even higher down payments and interest rates.

The result of all this is that many subprime borrowers would have been better off if lenders had been more stringent and not granted them mortgages in the first place; that's why there have been countless calls for the government to ban or heavily regulate "exotic" subprime loans like the 2/28s.

And not surprisingly, 78 percent said they expected underwriting standards for commercial and multifamily mortgages to be more stringent in 2008, compared with 70percentt surveyed last year and just 37percentt in 2005.

The worst off are properties selling for $380,000 and under, typically smaller homes for first-time buyers who have struggled to get mortgages because of more stringent lending policies, said Andrew Diamond, a partner at Lindsays Solicitors and Estate Agents in Edinburgh.

"Indeed, outside London and its commuter belt, demand may be better balanced with supply by the more stringent checks and affordability tests under the mortgage market review (MMR) that became mandatory less than a month ago.

"Two years ago these loans could be accommodated very easily, but today the requirements to get those loans are much more stringent," said David Adamo, the chief executive of Luxury Mortgage in Stamford, Conn.

There's no question that federal and state regulations, mandatory disclosures and penalties governing mortgage lending have become far more stringent in the wake of the financial crisis — and for good reasons.