Mortgage lenders often emphasize the low initial payments, but gloss over the possibility of higher payments later, according to John Dugan, U.S. Comptroller of the Currency.
Dugan says the government is taking steps to address the problems that arise from a variety of non-traditional mortgages that have helped fuel a housing boom.
One problem, he says, is that some lenders often fail to evaluate a borrower's ability to make higher payments.
Michele Norris talks with Dugan.
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