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 ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial