Home Equity Lending Guidance

Recognizing that certain home equity loans (especially open-end HELOCs, with an interest-only feature) can be subject to the same concerns evident in other non-traditional mortgage products, the OCC has supplemented its earlier guidance.

OCC Bulletin 2006-43 (Oct. 4, 2006) supplements the May 2005 Interagency Credit Risk Management Guidance for Home Equity Lending (OCC Bulletin 2005-22).

Link to OCC Bulletin:  http://www.occ.treas.gov/ftp/bulletin/2006-43.html

(ag) Oct. 7, 2006, in Home Equity Lending/Nontraditional Mortgages