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Home » Store » News » Joint Interagency Guidance on IOs, Option ARM to be Issued Soon

Joint Interagency Guidance on IOs, Option ARM to be Issued Soon

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Nonprime lending specialists may want to begin reviewing their underwriting policies and procedures regarding specialty or exotic mortgages and consider some changes. In a couple of weeks, federal regulators will be issuing new guidance on specialty mortgages, focusing on loans with interest-only features and options ARMs. Federal regulators at a recent compliance conference hosted by the Mortgage Bankers Association in Washington, DC, declined to talk about the guidance in detail. However, they said it…
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