New mortgage rules will create paperwork headaches, not derail recovery

New rules taking effect Friday requiring lenders to verify that borrowers can repay mortgages destined to be securitized and sold to investors will create paperwork headaches and delays. But fears that they’ll derail the housing recovery are overblown, according to experts consulted by Reuters in an analysis of the new “qualified mortgage ” rules, which are expected to apply to about 95 percent of home loans. Source: reuters.com.