Global Regulators Push For Safer Mortgage Lending

Law360, New York (April 18, 2012, 6:28 PM EDT) -- An organization of global financial regulators on Wednesday pushed new minimum mortgage underwriting standards that they say would bring more safety to the housing market and help prevent a future financial crisis spawned by the housing sector.

In new guidelines issued Wednesday, the Financial Stability Board said that the guidelines would help banks avoid some of the problems with extending mortgages to unqualified borrowers and setting up lax servicing standards that were rife prior to the subprime mortgage crisis in the United States and other jurisdictions....
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