Representatives of the mortgage lending and financial services industries jointly told federal regulators they strongly support efforts to prevent property “flipping,” but they are also concerned that the regulators’ proposed rule to implement requirements for property appraisals in connection with “higher-risk mortgage” loans might be far too complicated. “[T]he main complexity of the proposed rule relates to the fact that Congress defined higher-risk mortgages based on the spread of the annual percentage rate (APR) over...