Fed's Bies warns on mortgage, real estate lending - 2006-02-02
Regulators are worried about sizeable commercial real estate exposures and risky mortgage lending practices at U.S. banks, Federal Reserve Board Governor Susan Bies revealed on Thursday. In discussing the guidance on exotic mortgage products, such as interest-only loans, Bies reiterated that government regulators were concerned risk-management practices had not kept up with the risks that these widely available loan products could pose.
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Real Estate Tremors - 2006-02-02
California mortgage default notices were higher in the final quarter of 2005, according to a real estate information firm. Across the state, the number of default notices sent by mortgage lenders to borrowers was 14,999, 19% higher from the prior quarter and up 15.6% from the fourth quarter of 2004, DataQuick Information Systems revealed on Thursday.
Read the full story at Forbes