Legislation marked up by the Senate Banking Committee Sept. 21, imposes much greater disclosure requirements on so-called high yield mortgages but includes language that allows the Federal Reserve Board to ensure against a spillover effect for insured lenders and especially the secondary mortgage market.

The so-called anti-redlining legislation the Community Development, Credit Enhancement and Regulatory Improvement Act, S. 1275, defines a "high-cost mortgage" as a consumer lending transaction other than a residential mortgage secured by the borrower's home.

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