Federal Agencies Issue Final Guidance On Subprime Mortgages
Posted In: Mortgage and Real Estate
The Federal Reserve Board released the final statement of federal regulatory agencies on subprime mortgage lending recently. The release was done on behalf of the Federal Reserve's Board of Governors, the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, Office of Thrift Supervision, and the National Credit Union Administration (the Agencies.)
The guidelines were first published for comment in March of this year. The proposed statement provided guidance on the measures lenders should use in assessing a borrower's ability to repay a loan and...
