PNC to speed approvals of low-income loans.

CHICAGO -- PNC Mortgage Corp. said it would offer to approve loan applicants in just four hours as an enhancement to its affordable-housing program that uses alternative underwriting standards. The plan uses the proven ability to handle higherthan-normal housing payments experienced by many urban renters, along with and their credit histories.

PNC said the preapproval would enable people to shop for a house in the appropriate price range.

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