Principal write-downs would be facilitated by providing the FHA the flexibility to insure a broad range of refinancing products for a larger number of at-risk borrowers, including products that offer borrowers an affordable, restructured mortgage if their lender voluntarily agrees to write-down the principal amount of the borrower's mortgage.
U.S. Basel II supervisory guidance We are very pleased that on February 15 the U.S. agencies released proposed supervisory guidance to accompany the Basel II notice of proposed rulemaking (NPR) issued last September. While documents that make up the proposed guidance have not yet been published in the Federal Register, they are available on the agencies' public websites.