Submitted by Diane Cipa, Mar 7, 2007 20:25

Mortgage lending is held to a higher standard than consumer credit, as it should be. The lenders who tossed thoughtful human risk assessment in favor of credit scoring and automated underwriting, are paying the price for the mistake. Good mortgage underwriting is like tough love. You can't give a child something just because they want it. They have to earn the privilege. I trust the lesson is learned for now and mortgage lending will return to something more sane.

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