The Real Deal Miami

Lending standards tighten

September 29, 2009 09:52AM

Thursday marks the start of new stricter standards for home loans intended to make sure borrowers can repay them. Bobby Bashwiner, vice president for Group One Mortgage in Jupiter, said the days of easy loans for people with poor credit, unverifiable income and high borrower risks are over. August foreclosure rates in Palm Beach County climbed 110 percent from a year ago, according to RealtyTrac, a foreclosure tracking group.