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December 18, 2007

Fed to Crack Down On Lending Rules

Filed under: Real Estate News — admin @ 2:17 am

The fed plans to propose on Tuesday a set of stricter rules for lenders in order to curb abusive lending practices. Here are some of the proposed rules.

Prohibit giving people unaffordable loans.
Restrict use of ‘liar’ loans.
Prohibit or limit prepayment penalties.
Curb or better disclose broker incentives.

Click here to read the full article Cnn

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