Final Guidance on Nontraditional Mortgage Product Risks (PDF)

Press Release, November 29, 2006:  The North Carolina Office of the Commissioner of Banks Issues Proposed Guidance on Nontraditional Mortgage Products (PDF)

Comment Letters:  Please click the links below to view comments we have received on the proposed guidance as of January 29, 2007.  (These are all PDF documents.)

Brad Moses, Creative Mortage Solutions (11/30/06)

Patrick Lee, CNH Funding, Inc. (12/5/06)

John Szoka, NationsBest Financial Services Inc. (12/5/06)

Lee Tabor, USMortgage Inc. (12/7/06)

Russ Cross, Wells Fargo Financial (12/14/06)

Jeremy Bierlein, Wilmington Financial Group (12/16/06)

C. Grady Patton (1/17/07)

Donald Fader, SMC Home Finance (1/24/07)

Wayne Hardister, First Carolina Mortgage, Inc. (1/24/07)

Mark Tenhundfeld, American Bankers Association (1/25/07)

Wright Andrews, Coalition for Fair and Affordable Lending (1/26/07)

Chris Stinebert, American Financial Services Association (1/26/07)

Henry Cunningham, Jr., Cunningham & Company (1/29/07)

Center For Responsible Lending (1/29/07), click here for Attachments

Mortgage Bankers Association and Mortgage Bankers Association of the Carolinas (1/29/07)

Adam Rust and Peter Skillern, Community Reinvestment Coalition of North Carolina (1/29/07)

Robert Davis, America's Community Bankers (1/31/07)

Related Links:

CSBS website regarding the CSBS/AARMR Guidance on Nontraditional Mortgage Product Risks

Interest-Only Mortgage Payments and Payment-Option ARMS -- Are They for You? (PDF booklet issued by: Board of Governors of the Federal Reserve System, Federal Deposit Insurance Corporation, National Credit Union Administration, Office of the Comptroller of the Currency, and Office of Thrift Supervision)