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Home » Store » News » Under Pressure, Fed Appears Leaning toward Tougher Rule

Under Pressure, Fed Appears Leaning toward Tougher Rule

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Recent statements by Federal Reserve Board officials regarding proposed changes to the Home Ownership and Equity Protection Act appear to bode ill for mortgage lenders, particularly those with subprime lending operations. Under pressure to do something about predatory lending, the agency sounds inclined to press ahead with few changes to the proposed HOEPA revisions. At least that’s what one of its top officials has indicated publicly.
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