New Mortgage Regulations Require Proof of Ability to Repay

Aired: 1/10/2013 | 0:07:27 | Clip
A new set of federal guidelines on mortgage lending has been released in efforts to protect banks and potential homeowners from the risky practices that caused the 2008 housing crisis and economic collapse. Margaret Warner talks to Richard Cordray, director of the recently-established Consumer Financial Protection Bureau.