Mortgage underwriting in the United States

The Bank of Greece is establishing a ceiling on the issue of new mortgages to prevent excessive lending.

Governor Yannis Stournaras has decided to set a maximum loan limit in relation to the value of the property and a maximum limit for servicing the debts from housing loans in relation to the total income of the borrower.

The European Commission has approved Greece's home protection scheme, which supports householders who cannot meet mortgage payments and are at risk of losing their primary residence.
The Commission said on Thursday the scheme did not violate state aid rules.