AFR in the News: Banks divided on loan rules
Submitted by admin on May 7, 2012 9:52 am
Banks divided on loan rules
Federal agency pushes ability-to-pay mortgage tenet
Carter Dougherty | Bloomberg News
“This rule is aimed directly at the core deficiencies in the mortgage market that produced unsustainable loans, an inflated housing market, and resulting widespread economic hardship,” Americans for Financial Reform, a coalition of consumer advocacy groups, wrote Cordray in an April 18 letter.