US Agencies issue consumer information for non-traditional mortgages

WASHINGTON DC - The Federal Reserve Board, Federal Deposit Insurance Corporation and the National Credit Union Association have issued final illustrations of consumer information, intended to help institutions protect consumers.


The new illustrations pertain to the consumer protection portion of the Interagency Guidance on Nontraditional Mortgage Product Risks, that the agencies adopted on October 4, 2006.


The consumer protection section of the guidance sets forth recommended practices to

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