Tuesday, December 18, 2007

Fed proposes mortgage rules to protect borrowers (Reuters)



United States Chairman of the Federal Reserve System Ben Bernanke speaks after receiving The Citizens of the Carolinas award from the Charlotte Chamber during the Charlotte Chamber Annual Meeting at the Charlotte Convention Center in Charlotte, North Carolina November 29, 2007. (Chris Keane/Reuters)Reuters - Lenders will have to confirm that a
borrower can afford a mortgage before making a loan under
protections proposed by the Federal Reserve on Tuesday,
following defaults and losses on U.S. subprime mortgages this
year.




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