• Consumer Financial Protection Bureau Implements 'Ability to Repay' Regulations for Covered Mortage Loans
  • May 27, 2014 | Author: David J. Mack
  • Law Firm: Shumaker, Loop & Kendrick, LLP - Toledo Office
  • It is a widely understood that loose underwriting standards and practices by some creditors - including their abject failure in some instances to confirm their borrowers’ ability to repay mortgage loans - contributed in large measure to the mortgage crisis in 2008 that led to the nation’s most serious recession since the Great Depression.