Industry NewsMortgage

California to adopt federal guidance for subprime, ‘exotic’ loans

State also giving housing agency $2 billion in additional borrowing capacity
Published on Oct 5, 2007

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by CareyBot

California lawmakers will allow the state's Housing Finance Agency to take on another $2 billion in debt while criminalizing attempts to pressure appraisers and adopting federal guidance for subprime and "exotic" loans.