In a recent filing with the Securities and Exchange Commission, Washington Mutual Inc. said it reduced or suspended $6 billion in available credit on home-equity line-of-credit borrowers. A spokewoman told MortgageDaily.com that the thrift regularly reviews its HELOC portfolio and makes appropriate adjustments. She said other mortgage lenders are also reducing available credit on HELOCs in light of the current housing market and declining values.
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