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Home » Store » News » Lenders Urge Caution on Suitability Standards

Lenders Urge Caution on Suitability Standards

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Regulators should tread lightly when considering new disclosures or onerous suitability requirements for companies that originate nontraditional mortgages, industry groups have cautioned. The warnings came in response to a series of recently concluded hearings that were convened by the Federal Reserve Board to examine consumer protections and borrower behavior in the home-equity loan market. The Fed is charged with rulemaking authority for the federal Home Ownership and Equity Protection Act...
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