Fed Sees Subprime Revival in Tough Revision of HOEPA Rules
July 18, 2008
A new era of subprime lending is set to begin in the fourth quarter of 2009. The Federal Reserve this week finalized its revision of rules for the subprime market, with lenders winning few concessions compared with what was proposed in December. Fed Governor Randall Kroszner said the revision of sections of Regulation Z that implement the Home Ownership and Equity Protection...