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U.S. Plan Eases Rules for Mortgage Lenders

Started by steveF
almost 13 years ago
Posts: 2319
Member since: Mar 2008
Discussion about
http://finance.yahoo.com/news/u-plan-eases-rules-mortgage-000607940.html “Our goal as regulators is to provide clear rules that allow for robust markets that meet the needs of creditworthy borrowers in a safe and sound manner,” said Paul M. Nash, a senior official at the Office of the Comptroller of the Currency. “I believe the rule, as reproposed today, helps accomplish just that.”
Response by Riversider
almost 13 years ago
Posts: 13573
Member since: Apr 2009

Daniel M. Gallagher, a Republican member of the Securities and Exchange Commission, one of the regulators issuing the proposal, said in a written dissent today that the new standards were so lax that they would allow lenders to escape retaining risk on many loans that will probably default.

http://www.bloomberg.com/news/2013-08-28/eased-mortgage-risk-rule-to-be-proposed-by-u-s-agencies-today.html

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