Tougher mortgage standard unveiled
Verifying ability to repay stressed
Posted: January 11, 2013 at 3:08 a.m.
Lenders will for the first time be required by the government to verify borrowers’ ability to repay mortgages by confirming income and assets under a rule issued Thursday by the U.S. Consumer Financial Protection Bureau.
This story is only available from our archives.
Front Section, Pages 1 on 01/11/2013