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...
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