The Mortgage Bankers Association was among five groups to issue a letter to the Board of Governors of the Federal Reserve System. The 22-page letter calls for the fed to adjust proposed revisions for high-cost loan rules -- including a delay in implementation and consideration for prime loans that are normally priced higher. "Applying the new HOEPA rules -- and liability -- to large segments of the prime market will decrease the availability and affordability of mortgages in these segments," the letter stated.
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