8/16/2013

The Consumer Financial Protection Bureau issued an update Thursday that provides more information on how the agency will look at lenders to ensure they're complying with rules regarding ability-to-repay standards, qualified mortgages and high-cost mortgages and their appraisals. For example, the agency will require that a lender prove that a borrower can afford to pay back the principal and the interest, not just during the introductory period when rates are lower, but also over the long term.

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