Letter to various agencies commending the Guidance on Nontraditional Mortgage Product Risk
Non-trad-guidance207.pdf
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45.7 kB
February 21, 2007
However, despite recent efforts, CU remains concerned that millions of high-risk, unaffordable loans are not covered by the guidance and that massive payment shocks built into these loans could cause a foreclosure crisis that eclipses the displacement caused by Hurricane Katrina.