WASHINGTON -- Question: I am writing for a friend who is in this country illegally. The couple took out a loan which they thought came with a fixed rate at 9.5% with no pre-payment penalty.
WASHINGTON -- Mortgage brokers would be saddled with new rules designed to protect borrowers in the hard-hit subprime market under a bill introduced Thursday in the Senate.
WASHINGTON -- The Federal Reserve will hold a public hearing June 14 to consider adopting new rules to combat abusive lending, especially in the subprime market, the Fed announced Thursday.
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