Federal Financial Regulatory Agencies Extend Comment Period on Nontraditional Mortgage Products

Joint Release

Board of Governors of the Federal Reserve System
Federal Deposit Insurance Corporation
National Credit Union Administration
Office of the Comptroller of the Currency
Office of Thrift Supervision

The federal financial regulatory agencies today extended the comment period on the proposed guidance on nontraditional residential mortgage products.  Today’s action was prompted by requests from several financial institutions and trade associations for financial institutions to extend the comment period.  The comment period will be extended for 30 days to March 29 from the previous date of February 27.

Interagency Guidance on Nontraditional Mortgage Products; Extension of Comment Period