Debate on lending standards

As some states and a number of consumer groups call on mortgage lenders to try to ensure that borrowers can afford to repay their loans, there is debate about whether the adoption of suitability standards will make mortgages more costly and shut out too many prospective borrowers. Proponents of suitability standards say they will aid the increasing number of borrowers who find themselves unable to make their mortgage payments, while some in the mortgage industry believe that, at most, lenders simply need to educate consumers about the pros and cons of various loans. more [WSJ]