CSBS to Keep State Guidance on Exotic Products Lean, Focused
August 28, 2006
Seeking to allay mortgage industry fears, the Conference of State Bank Supervisors last week said it plans to develop a shorter guidance on nontraditional mortgages based on the consumer protection provisions in the broader proposed federal guidance. Michael Stevens, CSBS vice president and director of regulatory affairs, said both his group and the American Association of Residential Mortgage Regulators do not intend to beat the federal...