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Coakley Finalizes New Mortgage Rules

This article is more than 12 years old.

Attorney General Martha Coakley has finalized new regulations for mortgage brokers, aimed at stanching the state's foreclosure crisis.

The linchpin of the regulations is a rule that restricts the common practice of tying a broker's compensation to a loan's interest rate.

Coakley originally planned to ban this payment method altogether, but she backed down under pressure from mortgage industry officials.

This program aired on December 19, 2007. The audio for this program is not available.

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