U.S. regulators moving cautiously on mortgage reforms

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U.S. regulators moving cautiously on mortgage reforms

U.S. regulators moving cautiously on mortgage reforms

Reuters-

U.S. bank regulators, wary of upsetting the fragile housing market, are moving cautiously in fashioning dozens of new rules to prevent reckless underwriting and other mortgage market abuses.

In implementing the 2010 Dodd-Frank financial reform law, the regulators have said they are sensitive to arguments from a rare alliance of both lenders and consumer groups that too-tough rules could hamper credit availability.

Last week, citing sources familiar with the matter, Reuters reported that officials from six agencies that oversee housing might ease a proposal requiring lenders to keep a portion of securitized mortgages on their books. Consumer groups and lenders alike had pushed such a change.

The Federal Reserve and other agencies had already decided against requiring banks to raise more capital to fund their residential mortgage lending.

[REUTERS]

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