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Otis Certified Residential

Joined: 11 Aug 2007 Posts: 2891 Location: High and Dry
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Posted: Thu Jul 17, 2008 5:33 pm Post subject: Fed's Kroszner Says Fed Rules Will Affect Subprime & Alt A |
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http://www.mortgagenewsdaily.com/7172008_Feds_New_Mortgage_Rules.asp | Quote: | Fed's Kroszner Says Fed Rules Will Affect Subprime and Alternative Mortgages
Delivering comments at the FDIC's Minority Depository Institutions National Conference in Chicago, Fed Governor Randall Kroszner said the Fed's new rules on mortgages would alleviate pressures in nearly the entire subprime sector and some other alternative mortgage markets.
"At the core of our program, we have implemented a series of web-based modules designed to assist banks in addressing three distinctive development stages: (1) starting a bank, (2) managing its transition from a start-up to an established bank, and (3) building shareholder value once a bank has been established on a sound footing," Kroszner said.
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