[jyl]

JPM comments from call today
Mortgage lending has gone back to 80% LTV
In bubble/bust states (CA FL NV), won't go above 65% LTV
Only originating loans that are eligible for agencies

So, that's one example of credit contraction from a big money center bank.
I hear than smaller/community banks are not tightening down as hard - but seems likely to me that relatively small segment of the banking industry will be constrained by capital.