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More Action RE: Subprime Lending and Mortgage Regulation
By admin | July 17, 2007
At the end of June the five agencies that regulate federally chartered banks and their subsidiary lending corporations issued final guidance to those institutions regarding subprime lending, particularly the so-called exotic or non-traditional loans that are threatening to bring down those lenders who haven't already filed bankruptcy or shut their doors.
Also General Electric (GE) announced that it was getting out of the subprime mortgage business and that it has already rid itself of $3.7 billion in loans, about 75 percent of its total portfolio, to reduce its exposure to the volatile market...
Topics: Mortgage News |