According to a report that was published on Sunday in The Boston Globe, the US mortgage companies started rejecting credit applications even from people that have a good credit and financial situation, which could be a sign that the credit crisis in the country could be deepening even further.

The lenders in the United States began tightening their selection process in the approval of loans, taking more steps in order to be sure that the applicants are eligible for the credit they ask for. Among other measures, the mortgage companies have increased the down payment requirements for the loans.

Citing Thomas Marroni, the president of New Boston Mortgage Corporation, The Boston Globe reported that loan applicants are also required to be a prime borrower in order to receive the approval for a mortgage or to refinance a loan.

Marroni said that up to four applicants out of 15 top rated loan applicants for a credit are rejected, compared to around two months before, when only one applicant was turned down.

The latest survey taken by the Federal Reserve Board shows that in January, around 55 percent of the senior loan officers at banks in the United States increased their lending standards for prime customers, 15 percent more than in October.

According to the newspaper, the current credit situation was caused by the more and more threatening recession toward which the American economy might be heading to.