Banks, Consumer Groups Bicker Over Mortgage Affordability Rule

31 Oct 2011

A proposed rule that would require lenders to verify whether a borrower is able to repay a mortgage led to a heated battle between banks and consumer groups.

A proposed rule that would require lenders to verify whether a borrower is able to repay a mortgage led to a heated battle between banks and consumer groups. Banks are seeking protection from liability in the event they grant so-called qualified mortgages, which meet certain criteria, while consumer ...

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