commercial loan news

January 11, 2008

Federal Reserve Changes To Avoid Repeat Of Housing Crash

SOURCE: USA TODAY

Tuesday the Feds revealed changes to stop abusive lending practices that pushed thousands of home owners into foreclosure.

The changes will not help subprime homeowners who are in default. Stats fro the Mortgage Bankers Assoc. show 1 in 5 adjustable rate subprime loans is, at minimum, one payment behind.


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