Borrowers looking for a green light when applying for a mortgage may want to try SunTrust (STI) and steer clear of Chase (JPM), MarketWatch reports.
The publication has more on the various underwriting standards and mortgage acceptance rates at U.S. banks:
Home-buyer rejection rates ranged from 11% to 34% in 2012 at the 10 largest mortgage lenders, according to data released this month by the Federal Financial Institutions Examination Council. Those who applied for a mortgage at SunTrust -0.71% faced the lowest rejection rate—3,831 out of 34,749 applications were denied—while those at Chase encountered the highest rejection rate, with 26,894 out of 80,036 (a third) not passing muster.
