
Congress has been working on new mortgage legislation that should expand access to credit and help improve the housing industry.
“The latest version of the rules, proposed last summer, broadens the number of exemptions to the general requirement for those originating loans to keep 5% of the credit risk on their books. Mortgages guaranteed by federal agencies or meeting the standards of the new Consumer Financial Protection Bureau, for instance, will be exempt from this so-called risk-retention rule,” acclaimed financial author Darrell Delamaide reports in an USA Today article.
Read the USA Today article, Delamaide: Reforms near to ease mortgage lending.

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