News Release 2006-21 | February 17, 2006

Federal Financial Regulatory Agencies Extend Comment Period on Nontraditional Mortgage Products

Joint Release

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

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

Media Contacts:

Federal ReserveSusan Stawick(202) 452-2955
FDICDavid Barr(202) 898-6992
NCUACherie Umbel(703) 518-6337
OCCDean DeBuck(202) 874-5770
OTSChris Smith(202) 906-6677
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