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Thu 11 Nov 2002Banks defend home loan policiesBanks and building societies yesterday vigorously defended their mortgage issuing policies, insisting they adhered strictly to home loan guidelines set down by the Central Bank.Responding to a written warning by the sector's statutory watchdog that their lending criteria were to be closely observed amid deepening economic instability, the institutions dismissed suggestions they had not stooped to irresponsible borrowing to gain a competitive advantage in the increasingly competitive home loan market.