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http://www.fdic.gov/regulations/laws/federal/2005/05comguide.html

reference courtesy of Michael  Blomquist at GretaWire on FoxNews at 2.03 a.m.

– On this webpage above that he suggested in his post, I found the statement on my previous post that was made by the trade association ACB – America’s Community Bankers which outlines their disagreements with, and positions concerning the Federal government’s financial agencies proposed regulations. This document came from December 29, 2005 and was apparently one of many instrumental in deflecting the proposals from being enacted. – (my comments)

http://www.fdic.gov/regulations/laws/federal/2005/05c22guide.pdf

Why was there ever a loan to cover “interest only”? How could that have ever made sense in light of sanity?

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