From fiercefinance: One view is that the new rules will crimp mortgage lending at least in the short term. One could argue that a net decline in lending is a good thing if it will end the once-rife practice of giving anyone a loan regardless of the loan quality or the debtor's ability to repay. Overt time, these rules should lead to much higher quality loans and much more safety from legal liability for lenders that make qualified loan.
Either way, the conditions for a lasting, healthy recovery in the housing sector are slowly materializing. But there is still work to be done….
Read more: CFPB leaves GSE questions unanswered - FierceFinance http://www.fiercefinance.com/story/cfpb-leaves-gse-questions-unanswered/2013-01-11#ixzz2ILTmvLH8