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Continued: U.S. Bank mortgage chief sees tough conditions ahead for industry

  • Article by: ADAM BELZ , Star Tribune
  • Last update: September 11, 2013 - 7:40 AM

Aneshansel acknowledged that the mortgage industry as a whole “caused a lot of pain to this country,” but said mortgage originators must work to persuade government regulators that the “pendulum has swung too hard” on lending standards, making it too difficult for people with low and moderate incomes to buy a home.

“We’ve gotten overkill,” Aneshansel said. “The expectation of perfection that’s coming out of Washington, and not being allowed to have a judgment call on whether somebody can afford and buy their first home — the pendulum has just overswung.”

Adam Belz • 612-673-4405 Twitter: @adambelz

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