Industry News

Realtors welcome new guidelines on nontraditional mortgages

Bankers say they will stifle competition, choice
Published on Oct 5, 2006

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by CareyBot

Trade associations representing Realtors and lenders differ on new underwriting and disclosure guidelines for nontraditional mortgages. The guidelines, issued last week by federal bank regulators (see story), require banks to use more restrictive standards in evaluating borrowers’ ability to repay ...