“When American buy a home, they almost always are buying a home loan as well,” writes Dorsey Attorney Seth Leventhal.

Leventhal appeared in the Sunday, July 20, 2008 edition of the Star Tribune. His article, “New Rules Tighten Mortgage Operations,” was focused in the Tribune’s Business Forum and outlines popular criticisms of mortgage lenders, including encouraging people to take out loans they can’t afford and exploitive loan servicing. In response to the modern mortgage crisis, the Federal Reserve Board published rules that change aspects of the U.S. home mortgage industry. Leventhal provides a summary of the issues these rules attempt to address.

Leventhal concludes, “Clearly, the new regulations will impose additional costs, and they could drive deserving borrowers out of the market. Time will tell. But hopefully, the costs will be offset by a better functioning market for residential mortgages.”

To view the full article, click here to visit the Star Tribune.