With some new federal regulations coming next year, home buyers may find it more difficult to get into their new houses. But not everyone agrees that the new rules are necessary. From Bloomberg.com,
Consumer advocates, who question whether high credit standards are really just a response to regulation, say the industry’s fears are overblown.
“All of these rules are reactions to the failure to regulate at all over the last decade,” said Alys Cohen, a staff attorney at the National Consumer Law Center. “The rules don’t need to be in lockstep in order to provide reasonable oversight.”
The next few months will usher in a new implementation phase of the government response to the financial crisis of 2008 as regulators begin to unveil exactly how they will set limits intended to prevent another housing bubble.
Read the rest of the story about what next year will look like for those concerned about qualifying for a home loan.
Leave a Reply