Typical gubmint waste of money after the horse is out of the barn. Just who is offering ´teaser´ rates on a mortgage, now?If so, this has always been against the law.
Have you tried to get buy a house , recently? Be ready for a financial version of a colostomy.
The next thing you know, they´ll be asking if you are a U S Citizen.

An elderly person who owes nothing on a house would be an excellent risk for a mortgage loan. You only have an inheritance after someone dies. If an elderly person needs care, they can and should use the equity in their home to finance their own care. I guess an elderly person could eat cat food and go into a cheap nursing home to preserve their children´s expectation of a payout. The mortgage crisis was not caused by the greatest generation failing to pay their bills. It was caused by people who have bad credit but were giving loans anyways.

Wonder if they are gonna ban reality-TV shows like "Flip this House", where folks get the idea that they can make a killing by buy a house with a huge mortgage, then sell it at a quick profit (if the price goes up)

Cable TV was full of those shows just 6 years ago. Most everybody got burned.

I predict that these "new" rules will affect protected minority groups more than non-protected groups and hence will be quietly modified to allow lower standards for these groups. Kind of like last time!

First the leftists threatened the banks with charges of ´red-lining´ because they declined loans to those who could not be expected to re-pay.

Then they accused them of ´predatory loans´ because they did what they were forced to do and made loans to said people.

Now they want to punish someone for something but they are not sure what.

The free market was doing just fine until these Marxists took over.

The same feds who told banks they must lend to insolvent buyers, and threatened to penalize them if they didn´t, then attacked the banks when they did lend and the loans went bad, then bailed out people who defaulted on their mortgages, are now telling the banks to make sure people can pay the mortgages they take out?

The Reckless Endangerment caused by the corrupt Demonrat party and their Community Reinvestment Act, now trying to "mend" things with new legislation. The party of death, in this case the economy, strikes again.

Fun, fun , fun. The banks are just going to get out of the mortgage lending business altogether. The new Consumer Financial Protection Bureau rules state that lenders must check the applicant´s "Ability-to-Repay", while the Community Reinvestment Act requires lenders to make loans to a certain percentage of "disadvantaged" borrowers or else have their business curtailed. Classic FedGov Catch-22. Unintended consequence (or not?): Home mortgage lending dries up.