Former Fed chair Ben Bernanke says mortgage lenders are so strict right now that even he was turned down for refinancing, reports Bloomberg.
“I’m not making that up,” Bernanke told the crowd at a conference in Chicago this week.
He used his own situation to illustrate his point that lenders “may have gone a little bit too far on mortgage credit conditions.”
When Bernanke and his partner Anna bought a home in Washington, D.C. in 2004 they took out two mortgages, reports Bloomberg.
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