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Mortgage Guidelines Hit
Early in October, we reported that several federal regulatory agencies had gotten together to issue non-traditional mortgage guidelines. An open question at the time was whether these rules, which only applied to federally regulated lenders, would eventually be visited upon their state-regulated counterparts.
As of yesterday, the Conference of State Bank Supervisors has teamed up with the American Association of Residential Mortgage Regulators to release the state version of the regulation, based heavily on the federally-generated original. I will admit that I haven't heard of either of these organizations, but I'm guessing that they supervise and regulate things, respectively. Although the following quote from the press release would indicate that they don't exactly rule with an iron fist:
CSBS and AARMR encouraged the state regulatory agencies to adopt the guidance for the organizations they regulate.
Well, at least they're polite. I'll keep you posted on what, if anything, comes of this.
-- RICH TOSCANO

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Sewer Case Unclogged:
The City Council will consider a $40 million settlement for residential customers of the sewer system.
Monday, November 20 -- 4:23 pm
Uptown Crime Spike:
Atkins says workshops will help community remain safe.
Monday, November 20 -- 2:47 pm
Authority 'Worked Against Itself':
Steve Peace, on KPBS, reflects about what the airport authority did wrong.
Monday, November 20 -- 12:24 pm
SURVIVAL IN SAN DIEGO'The Worst of the Housing Bust Is Over' :
Economists surveyed by Wall Street Journal agree 2-to-1 that the market's seen its worst days.
Monday, November 20 -- 2:30 pm
LETTERS TO THE EDITORNo Time for Philanthropy:
Monday, November 20 -- 1:15 pm
CAFÉ SAN DIEGOThanksgiving Rocks! :
What I am thankful for.
Monday, November 20 -- 4:07 pm
COMMENTARY: SLOPThe Monday San Diego Tube :
The Cedar Fire like you've never seen it before. Extraordinary.
Monday, November 20 -- 7:56 am
COMMENTARY: RICH TOSCANOThe Cause of All Busts :
What really caused San Diego's last housing downturn.
Monday, November 20 -- 2:55 pm
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