In a story titled “Where to Find the Money” out this weekend in Wall Street Journal, Bank of Jackson Hole is cited as an example of a lending institution that is not hesitating to take on mortgages to qualified borrowers.
While consumer lending fell nationally by 3.8 percent in 2009, BOJH saw consumer lending rise by 34 percent. The article offers one possible reason: “Smaller lenders and credit unions often can be more flexible because they know their customers and local market better or may have a prior relationship with the borrower.”
The piece only mentions Bank of Jackson Hole in passing, but is worth a read for those interested in a good overview of the (slowly) changing national lending environment.
