Senior Loan Officer Outlook Still Grim for 2009

According to a survey released today of senior loan officers conducted by the Federal Reserve, the expectation is for the quality of existing loans to continue to deteriorate through the remainder of 2009.
In addition, overall the bankers reported that they tightened residential mortgage loan standards, while the percentage of those reporting tight commercial lending standards, while still high, had declined a little since the survey was conducted in January.
In short, 2009 continues to look like a nasty year, with perhaps some hope looming for early 2010.