March 2005
Mortgage Banking;Mar2005, Vol. 65 Issue 6, p14
This article reports that Standard & Poor's Ratings Services (S&P), New York, in evaluating the effect that antipredatory lending statutes have had on the funding of high-cost loans through the capital markets, found that only 0.01 percent of the U.S. residential mortgage loans it rated during 2004 were high-cost. Given that only $87 million of the approximately $758 billion rated in 2004 was high-cost, S&P said it is clear that the capital markets are not financing the originations of such loans.


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