Final Regulatory Guidance on Nontraditional Mortgage Products Expected by Year-end
May 25, 2006
Final guidelines on nontraditional mortgage products could come in the third or fourth quarter of this year, according to a Federal Reserve staffer working on the guidance. Brian Valenti, supervisory financial analyst at the Federal Reserve Board, said he expects final guidance by the end of the year, in comments at this week’s Mortgage Bankers Association nonprime lending and alternative products conference in Washington, DC. Without commenting on what changes the submitted comments might…