Government Looks for Ways to Ease Mortgage Risks
Mortgage lenders often emphasize the low initial payments, but gloss over the possibility of higher payments later, according to John Dugan, U.S. Comptroller of the Currency.
Dugan says the government is taking steps to address the problems that arise from a variety of non-traditional mortgages that have helped fuel a housing boom.
One problem, he says, is that some lenders often fail to evaluate a borrower's ability to make higher payments.
Michele Norris talks with Dugan.
Related NPR Stories
Foreclosure Looms for Family in Finance Trouble Dec. 12, 2006
Housing Slump Hits Lenders of High-Risk Loans Dec. 6, 2006
Existing Home Sales: What's Behind the Numbers? Nov. 28, 2006
Falling Home Prices Tempt Bargain Hunters Oct. 26, 2006
Comments
Discussions for this story are now closed. Please see the Community FAQ for more information.