Bay Area to feel impact of new mortgage lending rules

http://www.insidebayarea.com/business/ci_22351458/bay-area-feel-impact-new-mortgage-lending-rules

New federal rules for mortgage lending are designed to protect homebuyers against the excesses of the housing bubble, when homes people couldn t afford were sold to them with toxic loans that couldn t be repaid. The rules were announced Thursday by the federal Consumer Financial Protection Bureau.