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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: Ramsey Su who wrote (70646)	9/29/2006 12:36:32 PM
From: ldo79	Read Replies (1) \| Respond to of 110194

Any take on when that document will be implemented? TIA

To: Ramsey Su who wrote (70646)	9/29/2006 1:52:46 PM
From: CalculatedRisk	Read Replies (1) \| Respond to of 110194

I don't really know on the state's work. I do know the state regulators were heavily involved with this guidance - so they must audit state regulated lenders. Usually the Federal examiners are more experienced, so even if the guidelines are similar, state regulated lenders might ignore the guidance.

To: Ramsey Su who wrote (70646)	9/29/2006 5:50:26 PM
From: CalculatedRisk	Respond to of 110194

Dow Jones: Bank Regulators Want More Scrutiny On Exotic Mtges easybourse.com Excerpt: `The Wild West' Of Lending Howard Glaser, a mortgage-industry consultant who was a senior housing official in the Clinton administration, said the guidance would likely have an immediate effect on the lending industry. "What has been a tidal wave of exotic loan products should slow to a trickle," he said. "It's been the Wild West in the lending industry for the past couple of years." ... The lending industry was still analyzing the guidance Friday. David Schneider, president of the Home Loans Division at Washington Mutual Inc. (WM), said he could not speculate what impact the guidance would have on their practices. He did urge state regulators, however, to adopt similar guidelines so all lenders would be held to similar standards. ... "Obviously, how Wall Street and the rating agencies react to this will be very important," the Consumer Federation of America's Fishbein said.