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Consumer groups criticize new mortgage rules

Posted on 14 January 2013

New rules from the Consumer Financial Protection Bureau aim to make mortgages safer for borrowers, but consumer groups argue that the rules offer more protection for lenders than benefits for borrowers.
The new rules, released Thursday, include an “ability-to-repay” provision that prohibits lenders from issuing mortgages to people who are unable to prove they can afford the loans. But, consumer advocates charge, the rules also provide a legal shield for banks that is detrimental to borrowers………………………………………..Full Article: Source


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