U.S. regulators on Wednesday unveiled a reworked proposal to reduce risk in the mortgage market by requiring lenders to keep a stake in the loans they bundle and sell as securities. The Federal ... more 
U.S. regulators on Wednesday unveiled a reworked proposal to reduce risk in the mortgage market by requiring lenders to keep a stake in the loans they bundle and sell as securities. The Federal Deposit Insurance Corp. approved a new version of the stricter 2011 proposal designed to limit the type of shoddy underwriting practices that fueled the housing bubble. The U.S. Justice Department said it would provide $2.5 million to Connecticut state and local police departments to cover costs related to the December massacre of 20 elementary school students and six teachers in Newtown. The stock market edged higher as investors continued to focus on the likelihood of a U.S.-led military attack on Syria. less 
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Wochit
Wed, Aug 28, 2013 1:34 PM EDT