House Eases Mortgage Lending Requirements With New Legislation
Last week, the House of Representatives approved legislation that will ease mortgage lending requirements in an attempt to undercut the Dodd-Frank law.
The first measure eases curbs on lending measures for mobile and modular homes. The second measure reduces restrictions, which sponsors of the bill say have made it harder for some prospective borrowers to obtain credit.
The White House has threatened to veto the bills, warning that they would permit borrowers to be “steered” into higher-cost loans.
Image via Wikimedia Commons/Kmccoy