Legislation with broad support in the Senate Banking Committee to deal with "reverse redlining"--high-cost second mortgages--should be examined for potential unintended effects on the general mortgage market, home equity lending and the secondary market. the Federal Reserve Board says.

And despite claims from a chief sponsor--with support from Comptroller of the Currency Eugene L. Ludwig--that the Fed is being overly protective of lenders, it appears the panel's staff will be asked to revise the legislation to meet the Fed's concerns.

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