To All Depository Institutions and Others Concerned in the Second Federal Reserve District:
The federal financial regulatory agencies extended the comment period on the proposed guidance on nontraditional residential mortgage products. This action was prompted by requests from several financial institutions and trade associations for financial institutions to extend the comment period. The comment period will be extended for 30 days to March 29 from the previous date of February 27.
The original Federal Register notice, which was published on December 29, 2005, is below.