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Bill Tightening Mortgage Rules Wins Support from Regulators
By Robert Schroeder
RISMEDIA, Oct. 26, 2007-(MarketWatch)-A bill that would require licensing mortgage originators and standards for subprime mortgages won support from two federal banking regulators Wednesday. Comptroller of the Currency John Dugan and FDIC Chairman Sheila Bair said they were supportive of the bill in testimony prepared for a House Financial Services Committee hearing. However, Federal Reserve Governor Randall Kroszner warned that any new legislation should not restrict responsible lending or securitization of mortgages.
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Categories: Finance and Economy
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