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Monday, September 28, 2009
jump to the original story in - NYTimes.com:» Mortgages - New Lending Rules Coming Soon
On October 1, new rules adopted by the Federal Reserve will go into effect, requiring greater diligence on the part of mortgage lenders and brokers who make so-called high cost loans for borrowers with weak credit. Some consumer advocates applaud the new rules but say they come too late to help many borrowers. Mortgage executives, meanwhile, have expressed concern that the changes could further dry up the mortgage market.
Mortgages - New Lending Rules Coming Soon
