By Robert Schroeder
RISMEDIA, Oct. 17, 2007-(MarketWatch)-The U.S. housing crunch appears likely to continue to impact the economy and capital markets “for some time yet,” Treasury Secretary Henry Paulson said Tuesday. Calling the housing decline “the most significant current risk to our economy,” Paulson outlined several steps to prop up the market going forward, including loan modifications and an overhaul of the mortgage regulatory system. Such an overhaul would include a one-page mortgage disclosure document to be signed by borrowers at a home closing, and uniform national standards for mortgage brokers. Paulson made the remarks in a speech prepared for delivery at Georgetown University.
Copyright© 2013 RISMedia, The Leader in Real Estate Information Systems and Real Estate News. All Rights Reserved. This material may not be republished without permission from RISMedia.
Content on this website is copyrighted and may not be redistributed without express written permission from RISMedia. Access to RISMedia archives and thousands of articles like this, as well as consumer real estate videos, are available through RISMedia's REsource Licensed Content Solutions. Offering the industry’s most comprehensive and affordable content packages. Click here to learn more! http://resource.rismedia.com