[SS Gen] Guidances

Course Description

The Interagency Guidance on Nontraditional Mortgage Product Risks and the Statement on Subprime Mortgage Lending were developed by the federal banking regulatory agencies in response to the decline of the mortgage market. While these guidances did not have the effect of law, they were vital to re-establishing common-sense lending practices. The standards outlined in the guidances have now been codified in new and revised mortgage laws and regulations aimed at ensuring responsible lending practices.

This course provides an overview of the guidances, including the reasoning behind their issuance and the recommendations contained within each. This course will also discuss the current and future relevance of the guidances.

15 Minutes