Prof. Cox Quoted in Star Tribune on Mortgage Rules

Professor Prentiss Cox was extensively quoted in a Star Tribune article about new rules issued by the Consumer Financial Protection Bureau. The rules implemented limits on mortgage lending enacted as part of the Dodd Frank financial reform law. The rules clarified that lenders could not make a mortgage loan to a homeowner without confirming the homeowner's ability to pay. Cox stated that rules providing a safe harbor for "prime" loan transactions but not for high cost loans was a reasonable compromise between competing policy goals.