(Reuters) - Rising foreclosures following five heady years of mortgage
lending prompted regulators to write guidelines they say will
curb risky lending practices and protect consumers. The move
followed last year's clampdown on issuance of "exotic"
mortgages, including interest-only loans.
The Federal Reserve and four other regulators on Friday did
not bend to industry concerns that the guidance on subprime
loans would stifle an industry already in the throes of
crisis.
Read more at Reuters.com Government Filings News
lending prompted regulators to write guidelines they say will
curb risky lending practices and protect consumers. The move
followed last year's clampdown on issuance of "exotic"
mortgages, including interest-only loans.
The Federal Reserve and four other regulators on Friday did
not bend to industry concerns that the guidance on subprime
loans would stifle an industry already in the throes of
crisis.
Read more at Reuters.com Government Filings News
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