«Through our ability - to - repay rule, we want to ensure that consumers are not set up to fail with mortgages they can not afford and we want to
protect access to affordable credit,» said CFPB Director Richard Cordray.
«Preserving federal assistance for the lowest income renters,
protecting and expanding housing production programs like the Low - Income Housing Tax
Credit and the National Housing Trust Fund, and ensuring that low - and moderate - income first - time homebuyers have
access to affordable, safe mortgages are clear ways
to improve stability of families and our economy.»