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A similar fight is going on over "skin in the game" rules for mortgage risk retention.
A few elements, like tightening rules for mortgage brokers, may require federal legislation.
Possible down-payment requirements are part of a debate in Congress and among a cluster of federal regulatory agencies, as they develop new rules for mortgage lenders following the housing crash.
NEW YORK TIMES Consumer Agency Proposes New Rules for Mortgage Fees | With a proposal on Friday, the Consumer Financial Protection Bureau is looking to help consumers compare mortgage loan options.
In August the provincial government imposed a 15% tax on foreign buyers, while in October the federal government tightened the rules for mortgage insurance eligibility and moved to close a tax loophole believed to be used by some speculators.
The figures have been released as tough new affordability rules for mortgage customers that come into force on Saturday requiring lenders to carry out detailed checks on a borrower's spending and ability to pay if interest rates go up.
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Banks say their appetite depends on how new rules for mortgages turn out.
REUTERS Consumer Agencycy to Release New Rules for Mortgages | The Consumer Financial Protection Bureau plans this week to define new standards for home mortgage lenders, The Wall Street Journal reports.
A Eric D. Sherman, a Manhattan co-op and condominium lawyer, says many lenders have owner-occupancy rules for mortgages on condominium units.
In a speech on Friday, a Federal Reserve governor, Elizabeth A. Duke, suggested that smaller banks should have separate rules for mortgages.
Last fall, the White House announced a plan to help as many as 11 million homeowners by relaxing refinancing rules for mortgages held by Fannie Mae or Freddie Mac, the government-sponsored companies.
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