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The Boston Globe


New rules for lenders ban risky mortgages

WASHINGTON — Federal regulators are for the first time laying out rules designed to ensure that mortgage borrowers can afford to repay the loans they take out.

The rules, being unveiled Thursday by the Consumer Financial Protection Bureau, impose a range of obligations and restrictions on lenders, including bans on the risky ‘‘interest-only’’ and ‘‘no documentation’’ loans that helped inflate the housing bubble before it burst.

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