WASHINGTON, D.C.–(ENEWSPF)–January 18, 2013. The Consumer Financial Protection Bureau (CFPB) is issuing rules to prevent mortgage lenders from steering borrowers into risky and high-cost loans. The rules ban certain incentives that loan originators had to sell unsafe loans to consumers in the run-up to the financial crisis.
“Before the financial crisis, many mortgage borrowers were steered towards risky and high-cost loans because it meant more money for the loan originator,” said CFPB Director Richard Cordray.…
