Yes, and the irony of "increasing capacity" with new hires while more jobs are being permanently lost. If people can't qualify who are they closing loans for???
On a positive note, I read that many are turning to alternative qualifying metrics (outside traditional FICO), like likelihood of surviving an economic crisis (lol!). I had a good nest egg after my house sale and the Rental "crisis" gobbled most of it up. Lenders wouldn't even look at that. But now, after enduring massive rent payments and fewer reserves . . .
The "stop-start-stop" is industry whiplash for sure!! |