Subprime Mortgage Lending Guidelines Proposed

Proposed subprime mortgage lending underwriting guidelines, designed to get control over the increasing number of delinquencies and foreclosures in the subprime market, have been prepared and made open for comment, according to an article in Realty Times. The guidelines are intended to focus the lenders on better assessing the borrowers' ability to repay and specifically address seven lending practices that, many believe, have been creating havoc in the market. To read more, including links to other relevant background information, see New Subprime Guidelines Open For Comment.

To read the statement, prepared jointly by the four relevant Federal government agencies, see Proposed Statement on Subprime Mortgage Lending.
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