For example, a number of public and private efforts have been made to help avoid unnecessary foreclosures and to enable underwater and other borrowers to refinance at lower interest rates. Alternatives to foreclosure, including short sales and deed-in-lieu arrangements, have become more common.
All the same, it is worth noting that total lending remains at a very high level and that it did not fall at any time in the years of economic downturn. Slide 3: Financial risks If we zoom in on the trend in lending, there are signs of risks building up.