According to the latest Federal Reserve Board Senior Loan Officer Opinion Survey, net, net, 12.7% say they're tightening lending standards on commercial loans.

National Association of Home Builders economist Michael Neal notes that credit standards on construction and land development loans tightened during the fourth quarter of 2015. Still, it seems that although the standards are getting stricter, borrowers seem to be getting a green light at a healthy clip. Neal writes:

"Despite tighter lending conditions on construction and development loans at commercial banks, the Federal Deposit Insurance Corporation (FDIC) has reported 5 consecutive quarters of year-over-year growth in the range of 16% and 17.5% on the outstanding amount of development and construction loans.

"Not only is the outstanding amount of development and construction loans rising at smaller banks, such as community banks, but also at credit unions. However, the outstanding amount of development and construction loans at credit unions is small. "

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