Ever since the home loan bubble rush, mainly precipitated by irresponsible financing by big banks, these same loan providers were reluctant to duplicate the mistake that is same. Therefore, they’ve tightened their underwriting requirements, alert to laws that they could be forced to buy them back if they sell bad or unsupportable loans to investors. Credit unions never experienced the amount of losings that the banking institutions did. “I think something such as 500 banking institutions failed, but just about 150 credit unions did, ” Schenk said. (more…)