February 17, 2006
Federal Financial Regulatory Agencies Extend Comment Period on Nontraditional Mortgage Products
- 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
For immediate release
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.
The original Federal Register notice, which was published on December 29, 2005, is attached.
| Media Contacts: | ||
| Federal Reserve | Susan Stawick | (202) 452-2955 |
| FDIC | David Barr | (202) 898-6992 |
| NCUA | Cherie Umbel | (703) 518-6337 |
| OCC | Dean DeBuck | (202) 874-5770 |
| OTS | Chris Smith | (202) 906-6677 |