Examiners Told Not to Be Hasty in Reclassifying High LTV Mortgages
May 11, 2009
Residential refinance loans that lower the interest rate of a performing mortgage with a higher loan-to-value ratio generally should not be adversely classified as long as they follow sound underwriting guidelines, according to new guidance issued April 30 by the Federal Deposit Insurance Corp. In FIL-19-2009, the FDIC affirmed that the standards in the Uniform Retail Credit...
The creation of a U.S. sovereign wealth fund could grease the skids for an end to the conservatorships of Fannie Mae and Freddie Mac.
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