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HUD Chief Talks Mortgages At NC Conference

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(Credit: Daniel Acker/Bloomberg via Getty Images)

(Credit: Daniel Acker/Bloomberg via Getty Images)

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RALEIGH, N.C. (AP) — Some of the most influential people in home lending are in North Carolina to talk about rules that revive the mortgage market without opening the door to excesses that caused home sales to collapse during the recession.

U.S. Housing and Urban Development Secretary Shaun Donovan is the top name at a mortgage conference in Raleigh on Tuesday. He and other industry leaders are talking about reforming the way the country’s banks and other lenders do business, and how loans are collected together and those bundles sold to investors.

The Mortgage Bankers Association said Monday that lending standards for home loans tightened slightly in August but credit remains significantly more available than last year.

(© Copyright 2013 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

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