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Two Tales of New Mortgage Rules

Two Tales of New Mortgage Rules

The Federal Deposit Insurance Corporation's board voted for new mortgage rules yesterday mandated by the Dodd-Frank Act, the banking reform law passed last July. The new rules will increase credit risk retention requirements for mortgage lenders to 5 percent—though it gives them some wiggle room on what constitutes "retention." The rule would be suspended for "qualifying" loans that are less risky for both lender and borrower too.  This is giving some people in the real estate business fits. The nation's two preeminent news organizations present a study in contrasts:

is all floods and locusts:

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where you can read the new regulation and comment. It should appear there shortly.

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