It is a common practice for these payments to be escrowed in the prime markets, and I see no reason that escrows should not be standard practice in the subprime markets too. All told, the spirit of innovation is essential to addressing the issue that is before us now as lenders, investors, regulators, community leaders, and borrowers.
As stakeholders and beneficiaries of the mortgage market, we all share an interest in working together to implement solutions that maintain a robust, transparent credit environment that promotes access to responsible mortgage lending. 6  BIS Review 126/2007