March 12, 2007 News Archive

Agencies Seek Comment on Subprime Mortgage Lending Statement

In a joint press release, the federal financial regulatory agencies issued for comment a proposed Statement on Subprime Mortgage Lending to address certain risks and emerging issues relating to subprime mortgage lending practices, specifically, particular adjustable-rate mortgage (ARM) lending products. Comments are due sixty days after publication in the Federal Register, which is expected shortly.