Wednesday, August 8, 2007

WaMu tightens rules for mortgages (Seattle Post-Intelligencer)

Washington Mutual Inc., the biggest U.S. savings and loan, has raised requirements for accepting so-called low-documentation mortgages, and UBS AG has stopped taking loans that don't have some proof of a borrower's income and assets as banks reel in their lending practices to avoid losses.

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[Source: Yahoo! News Search Results for mortgages]

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