Sentence examples for standards for loans from inspiring English sources
The settlement would end several class-action lawsuits that claimed Countrywide concealed mounting risks as it loosened its standards for loans.
Credit standards for loans to businesses will tighten in the first quarter of 2013, according to a survey published by the ECB on January 30th.
The latest data from the Federal Reserve show that banks are tightening their standards for loans to companies with less than $50 million in annual revenue, even as loan demand is ticking up.
In its most recent senior loan officer survey in July, the Fed found that 60% of commercial banks tightened lending standards to large- and middle-market firms, and 65% had tightened lending standards for loans to small companies.
On Thursday, the company said it was tightening its underwriting standards for loans, to ensure that more are "conforming" loans, assets that are eligible to be purchased by Fannie Mae and Freddie Mac," government-sponsored companies that buy up mortgages that mean their lending standards.
And they would have to adhere to tougher standards for loan servicing and foreclosures.
"Specifically," Ms. Bair said, "the government could establish standards for loan modifications and provide guarantees for loans meeting those standards.
Other provisions required by Dodd-Frank are also being proposed by the consumer bureau, including qualification and screening standards for loan originators.
The bureau should also set national standards for loan servicers to require clear disclosure of conditions, advance notice of any changes in the status of the account and prompt resolution of customer requests for information.
It does not impose any meaningful standards for loan modifications beyond those already required by various federal programs and agreements, many of which will expire in the future and none of which apply to the entire industry.
As part of its "asset-quality review", ECB officials, along with outside experts, will start peering into the banks' balance-sheets and impose common standards for loan quality (see article).
