Subprime Crisis of Regulations

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A report issued by the Federal Reserve early in August should receive far more attention than it has received to date.

According to this FRB study, neither the Community Reinvestment Act (CRA) nor the affordable housing goals of the federal government sponsored enterprises (GSEs) were significant causes of the recent problems in the subprime mortgage market.

Although this report offers "tentative" conclusions, it is remarkable nonetheless to use empirical data to look for a direct link between the applicable regulations and loan performance - and find nearly no link at all!

So, does a link exist between these programs and subsequent mortgage performance?

Article provides commentary, analysis, and resources.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Jonathan Foxx, Lenders Compliance Group | Attorney Advertising

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