Fair Isaac Corporation

Bank of America and Wells Fargo were among banks that tightened credit standards for mortgages insured by the Federal Housing Administration in a move that may put a crimp in the U.S. housing recovery by effectively eliminating 6.3 million people from the potential home buying pool.

Approval rates for bank loans will likely fall as the number of applications increase over the next six months, according to a recent survey of banking professionals released today by Fair Isaac and Northwestern University's Kellogg School of Management.