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New mortgage rules are up for public comment.
“The intent of this rulemaking is not to kill private mortgage securitization — the financial crisis has already done that.”
~FDIC Chair Sheila Bair
SUMMIT COUNTY — In a move that will ultimately have long-term implications for the real estate market in Colorado and across the country, federal regulators this week announced one of their proposals to restructure home lending rules.
Click here to read the federal notice and to comment.
The Federal Deposit Insurance Corporation and the Federal Reserve now want public comment on the plan, which would require lenders to offer mortgages with at least a 20 percent down payment if they want to repackage the loan to sell to other investors without keeping some of the risk on their books. (more…)
Filed under: business, Colorado, economy, real estate | Tagged: business, Dodd–Frank Wall Street Reform and Consumer Protection Act, economy, Fannie Mae, FDIC mortgage rulemaking, Federal Deposit Insurance Corporation, Federal Reserve System, Freddie Mac, home mortgage financing, real estate, Securitization, Sheila Bair, Summit County News | Leave a Comment »
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