Report: 1 in 3 loan applications denied


WASHINGTON (AP) -- Nearly one in three borrowers who applied for a mortgage last year was denied as lenders kept their standards tight as the mortgage crisis accelerated, the government reported Wednesday.
In its annual look at mortgage practices among lending institutions, Federal Reserve said the denial rate for all home loans was about 32 percent last year -- about the same as in 2007, but up from 29 percent in 2006. The