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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: ild who wrote (67205)	8/29/2006 12:07:30 PM
From: CalculatedRisk	Read Replies (1) of 110194

Nontraditional Mortgage Guidance: 60 Days Matthew Swibel writes in Fortune on August 23rd: Dodging A Bullet forbes.com "A band of five government regulating agencies led by the Comptroller of the Currency, appear likely in the next 60 days or so to pour cold water on the hot--and lucrative--nontraditional mortgage loan market adored by banks and mortgage brokers. These include the popular, but deadly interest only and pay-option adjustable rate, in which borrowers decide each month how much to repay." NOTE: Swibel told me that the OCC is "growing frustrated by delays caused by other agencies" and is pushing hard for the release of the guidance.

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