Home Loans May Get Shield

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Home Loans May Get Shield

Home Loans May Get Shield

Proposal Would Give Banks Protection in Cases Involving Top-Quality Mortgages

WSJ-

Federal regulators are considering giving mortgage lenders protection from certain lawsuits, according to people familiar with the matter, a move designed to encourage lending to well-qualified borrowers.

The potential move, which would be a partial victory for mortgage lenders, is part of a broader effort to write new rules for the U.S. housing market in the wake of the mortgage meltdown. The proposal for the first time would establish a basic national standard for loans, known as a “qualified mortgage.”

As part of its deliberation, the Consumer Financial Protection Bureau is considering providing a full legal shield for high-quality loans …

[WALL STREET JOURNAL]

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One Response to “Home Loans May Get Shield”

  1. Sarah says:

    Looks like the CFPB is protecting banks from the litigious riff-raff. At first read, this sounds like a massive lobbying effort paying off,
    a set of special protections for mortgage lenders. They consistenly lied (lie) that some of their bubble era predation was of “high quality”.

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