Former Fed chairman fails to qualify for refinancing loan

Incident raises question of whether the credit market is too restrictive.

By Peter Fabris, Contributor | October 15, 2014

Is the credit market too tight? If you consider that former Federal Reserve Chairman Ben Bernanke was unable to qualify for a loan to refinance his own Washington, D.C., home, the answer might well be “yes.” Bernanke, who earns seven figures and owns a rowhouse on Capitol Hill in Washington, said that “it’s entirely possible [lenders] may have gone a little bit too far on mortgage credit conditions.”

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