New Mortgages for Financing Homes Need Uniform and Comprehensive Consumer Safeguards.
GENERAL ACCOUNTING OFFICE WASHINGTON DC COMMUNITY AND ECONOMIC DEVELOPMENT DIV
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This report discusses several of the new mortgage instruments for single-family homes and their impact on home buyers and lenders. This review was made because many Americans purchasing homes in the future will be faced with selecting one of the new alternative mortgage instruments instead of the standard level payment mortgage which has been in use for about 40 years. The report contains recommendations to the Department of Housing and Urban Development, the Federal Home Loan Bank Board, and the Comptroller of the Currency. Author
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