(Reuters) - Comptroller of the Currency John Dugan said the use of a borrower's stated income, without verification, had helped increase mortgage delinquencies and foreclosures in combination with other lax underwriting standards.
Regulators must decide whether to address the practice in finalizing proposed guidance on subprime lending, Dugan said in a speech to the Neighborhood Housing Services of New York.
Read more at Reuters.com Bonds News
Regulators must decide whether to address the practice in finalizing proposed guidance on subprime lending, Dugan said in a speech to the Neighborhood Housing Services of New York.
Read more at Reuters.com Bonds News
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