Mortgage Problems for Home Buyers

In the aftermath of the economic meltdown of the last decade, a new underwriting standard was introduced by the federal government to combat the risk of mass failure by the banks and reduce the mortgage problems for home buyers.  The process for obtaining a mortgage tightened up with the addition of the new regulatory measures on one side and the banks reluctance in approving mortgages, which would have been approved previously, on the other hand.  According to NAR, National Association of Realtors, while NAR supports the strong underwriting policies, but they feel that many homeowners have lost the opportunity to purchases a home due to “unnecessary regulatory burdens”.

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