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OCC Chief Urges Stricter HELOC Underwriting
This week, Comptroller of the Currency John C. Dugan urged banks to consider tougher underwriting standards on home equity lines of credit (HELOCs). In his speech, he suggested that banks should cut back on many of the competitive HELOC allowances used by underwriters during the housing boom: “Home equity loans and lines of credit grew dramatically [...] [...more]