Banking

Foreclosure Rates Comparable Across Incomes, Study Says 

A new study, commissioned by the New York-based Local Initiatives Support Corp. and released Wednesday, argues that defaults are more generally tied to the type of loan product than to a borrower’s specific income level — findings that are heating up a vivid political debate over the cause of the financial crisis, and, in particular, the role of the GSEs in driving the current mortgage mess.