2013-05-30 20:56:42

Consumer Financial Protection Bureau finalizes rule to regulate home loans as feds extend loan modification program

As homeowners across the country face foreclosure, policy-makers in Washington are making some progress in regulating the banking industry and mitigating the effects of the mortgage crisis. Yesterday, the Consumer Financial Protection Bureau finalized a rule that will prevent lenders from offering loans too big for borrowers to pay back. Today, the Treasury Department and the Department of Housing jointly announced an extension of the Making Home Affordable program, enabling homeowners to apply for help with loan modification and refinancing for another two years.

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