Subprime mortgage rules revised

The Feds, in other words the federal monetary system regulators, have been working hard on this for quite some time and at last they can present a final product for distribution. It took a while because they had to listen to all sides on the issue and then merge the more useful ideas into policy decisions. But the new rules how to write subprime mortgage loans are in. One thing to remember is that they only apply to federally regulated lenders.

Subprime mortgages are offered to borrowers who have had past credit problems or have thin credit files. To read the entire article, please click here.