Lenders Target Home Buyers With Credit Flaws

Giving mortgages to financially sound borrowers with credit flaws

As the first deputy director of the Consumer Financial Protection Bureau, Raj Date helped write new rules for mortgage lending, including designing a qualified mortgage—one with strict credit and income requirements for the borrower and no balloon payments, among other features. In return, lenders who issue qualified mortgages will have some protection against consumer lawsuits.

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