Survey: Banks expect more loan applications, fewer qualified borrowers

09/8/2010 | Bloomberg Businessweek

A quarterly survey from FICO found that nearly 75% of U.S. lenders expect an increase in loan applications this year but are concerned that fewer borrowers will qualify. More than two-thirds of risk professionals surveyed said they expect the rate of credit approval to decline. Bankers also expect to face increased delinquency on small-business loans, mortgages, credit cards, auto loans and student loans, according to the survey.

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