The Federal Reserve released its survey of senior loan officers (SLOOS) earlier this week. On its face, the survey suggests a modest loosening of credit for prime and non-traditional lending. However, the picture is a little more mixed for those groups and credit for borrowers with less than pristine credit remains tight.
Respondents to the SLOOS survey indicated an improvement in mortgage lending to prime and non-traditional borrowers. However, lending to subprime borrowers tightened from last quarter.