Economy Watch - Mortgage Reforms From Out West
October 15th, 2009
California Gov. Arnold Schwarzenegger signed green legislation over the weekend, as covered by CPE on Monday, but also nestled in the raft of bills that he signed were major overhauls of the rules governing residential mortgages. The thrust of the reforms was to help prevent some of the mortgage origination abuses that were rampant in the mid-2000s, and which did their part to inflate the housing bubble.
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