Realtors Association president says home loans will become more difficult to get

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Homebuyers in the U.S. will find it more difficult to qualify for mortgages next year after several rules take effect, says Maurice "Moe" Veissi, president of the National Association of Realtors.

October 30, 2012

Homebuyers in the U.S. will find it more difficult to qualify for mortgages next year after several rules take effect, says Maurice "Moe" Veissi, president of the National Association of Realtors. Regulators are preparing to release the language of two rules taking effect in January to set standards for non-abusive lending, and to require banks to hold a slice of risky mortgages on their books. U.S. banking overseers must also complete new capital standards mandated in the international Basel III accords next year. These rules may overlap or conflict, creating a “perfect storm” of regulation, Veissi says.

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