Monday Morning Cup of Coffee: Ocwen settles "frustrating skirmish" with California

Zillow plans event to “hack” housing

Offers $10,000 prize for creative solutions to jumpstart market

CFPB goes after Wells Fargo, JPMorgan for mortgage kickback scheme

Mega banks will pay $35.7 million total
W S
Lending / The Ticker

NY Times: New standards for safe loans

/ Print / Reprints /
| Share More
/ Text Size+

New federal regulations require mortgage lenders to do what should go without saying: verify that prospective borrowers can pay.

Yet during the housing bubble, many lenders all but abandoned traditional underwriting standards, and the resulting wave of foreclosures has taken years to recede. An “ability-to-repay” rule, adopted last month by the Consumer Financial Protection Bureau and effective January 2014, is intended to protect borrowers from again falling victim to risky lending.


Read full story

Recent Articles by HousingWire Staff

Comments powered by Disqus