Housing Bubble

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Avoiding Predatory and Abusive Lending Practices in Brokered and Purchased Loans

10 pages, 263 KB

Department of the Treasury

Office of the Comptroller of the Currency (OCC)

Letter to alert national banks and their operating subsidiaries (collectively referred to as national banks) to the risks they may confront if they make loans through brokers or obtain loans through purchase transactions that contain terms or reflect practices that may be characterized as abusive or “predatory.”