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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.

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Front Section, Pages 1 on 01/11/2013

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