Industry Group Urges Fed to Redo Reg Z’s ‘Higher-Priced’ Threshold
June 8, 2009
In light of changes in anti-predatory lending legislation passed recently by the House, mortgage lenders are urging the Federal Reserve Board to reconsider the new threshold for “higher-priced loans” under the Home Ownership and Equity Protection Act to ensure prime loans are excluded from the category. In a May 28 letter, the Consumer Mortgage Coalition also asked that private...