Exclusive outtakes from industry leaders
Audio – Scoring points with subprime mortgage guidance
The five regulators writing stricter guidance on subprime mortgage underwriting haven’t finalized a date for its release, though it should be very soon, said Scott Polakoff, senior deputy director and chief operating officer for the Office of Thrift Supervision, at the Reuters Global Real Estate Summit.
The Mortgage Bankers Association, the largest trade group representing bankers, last week suggested discord among regulators was hampering the final guidance. But all regulators, which include the OTS, the Federal Deposit Insurance Corporation, and the Federal Reserve, are on the same page in terms of what they want to accomplish, Polakoff said.