Via a press release on the Fed’s Web site:

The Federal Reserve Board on Tuesday announced the discussion topics for its June 14 public hearing under the Home Ownership and Equity Protection Act (HOEPA). The purpose of the hearing is to gather information about how the Board might use its rulemaking authority to curb abusive lending practices in the home mortgage market, including the subprime sector, in a way that preserves incentives for responsible lenders to provide credit to borrowers.

Part of the discussion looks to center on whether the Federal Reserve should adpot rules similar to recently state-level legislation, in addition to the usual suspects: prepayment penalties, escrowing of taxes and insurance, stated income loans and consideration of qualifying at the fully-amortized rate.

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