MA Tries to Ease Jittery Mortgage Market with Emergency Regulation
November 8, 2004
Under pressure to stop lender flight from the Bay State, the Massachusetts Division of Banks last week issued emergency regulations modifying certain refinance-related provisions in the state’s new anti-predatory lending law. The action came a month after Fannie Mae’s announcement that it will no longer purchase Massachusetts loans that qualify as “high cost home mortgage loans” under the new state law. …