Greenspan, Regulators Raise Volume of Housing Alarm

Published on:
12 September 2006 at 10:19 a.m. ET

Written by: Unknown Author –

http://www.insidearm.com/news/00002931-greenspan-regulators-raise-volume-of-hous/

By Kristin Roberts, Reuters

Federal Reserve Chairman Alan Greenspan this week added to a chorus of worry about the growth of home loans seen as far riskier than the 30-year mortgage that has been U.S. housing’s bedrock for decades.

Those alternatives, called “exotic” by the Fed chief on Thursday, have played a big role in sustaining the four-year housing boom by making homes more affordable, which in turn stoked demand and drove prices higher and higher.

But these hundreds of alternative mortgage products have also injected more risk into the market — both for lenders and borrowers, according to regulators and some analysts.

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Greenspan, Regulators Raise Volume of Housing Alarm

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