Underwriting

OCC Sees Banks Tighten Underwriting Standards 

The majority of the nation’s largest banks tightened underwriting standards in 2009, according to an annual survey from the Office of the Comptroller of the Currency (OCC). The survey covered underwriting standards for both commercial loans and retail loans — which include residential mortgages. During the 12-month period ending March 2009, the OCC examined the top 59 banks with assets of $3bn or more, covering 84% of total loans in the national banking system.