Here and Now with Robin Young and Jeremy Hobson
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Tuesday, August 2, 2011

Banks Fight Rules Regulating Risky Mortgage Loans

A new house is shown for sale in Portland, Oregon. (AP)

A new house is shown for sale in Portland, Oregon. (AP)

The Dodd Frank bill that passed last year to overhaul finance industry laws has a pretty minimal requirement for home loans.

One such provision requires that lenders should determine that people can probably repay a loan before lending them money to buy a home.

Now the banking industry is challenging that requirement, as it seeks a return to riskier mortgage loans.

The fight comes as banks are negotiating penalties for poor foreclosure practices that led to improper evictions of homeowners.


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