Many of the complaints filed with the federal Consumer Financial Protection Bureau involved servicing, loan modification and foreclosure activities by home-loan servicers.
The rule will give buyers the time and ammunition they need to challenge appraisals that they suspect contain errors.
Home buyers who find it difficult to meet new standards for debt-to-income ratios when applying for a mortgage may find wiggle room if they search for it.
BP, the perpetrator of the 2010 Deepwater Horizon oil spill in the Gulf of Mexico, has been working assiduously over the last year to wriggle out from under a financial settlement it reached for gulf businesses harmed by the disaster. As we reported back in February, the oil giant has rolled its big guns into federal courthouses, placed ads in major newspapers, and snagged a hugely sympathetic article in BusinessWeek. But Sunday it landed its biggest fish of all: "60 Minutes," which broadcast a lengthy segment parroting the company's complaints that the settlement deal it agreed to in 2010 has allowed many businesses in the gulf states to pocket settlement...