Lenders cut back, tighten terms

Lenders cut back, tighten terms


Once seemingly confined to subprime lending, problems in the mortgage industry showed signs of spreading to more-creditworthy borrowers Friday, triggering concerns about the potential fallout on the real estate market. ...


The Chicago-based company writes insurance policies that kick in when a borrower defaults on a first mortgage. Its products and services also include title insurance in case there's a problem transferring the title when the house is sold. Title insurance is typically underwritten only when there's a sale or refinancing on a property, so if the housing market weakens, the number of real estate deals requiring title insurance falls. More...