Comptroller of the Currency John C. Dugan wants mortgage lenders to warn consumers about the risks they take when using mortgages with payments that start off artificially low and jump dramatically 5 to 10 years down the road. 

In a speech before an economic conference hosted by the Greenberg Institute (a fair-lending advocacy group), Dugan said regulators don't plan to stop the marketing of these exotic mortgages, but want to strengthen disclosure rules and approval requirements to be sure borrowers understand and will be able to meet their lending obligations. 

Dugan warned that with some nontraditional mortgages payments can double after five years.  If the borrower can't make the higher payments, he or she could risk losing his or her home.  Lenders also face risks - they could suffer huge losses if they must foreclose on many of these loans.