(NBC News) Housing experts are warning lawmakers new guidelines designed to protect consumers from risky mortgages will keep potential buyers from getting loans at all.
Home owners and banking industry experts say these rules just don't leave lenders enough wiggle room for special circumstances.
Eight months ago Kristen Robinson purchased her first home in Charlotte, North Carolina.
Now she worries new mortgage rules created in response to the 2008 housing crisis will mean people like herself won't qualify for a loan.
She is among hundreds of new homeowners protesting in Washington Tuesday and filling a Congressional hearing examining the changes.
The new rules require lenders to verify a buyer can repay their mortgage or possibly face legal liability if they don't.
Lenders say the rules limit their ability to work with the buyer.
Lawmakers say the rules aren't all bad but they're questioning whether there needs to be a better balance between new protections and leniency in the housing market.
The federal agency enforcing these new rules predicts the changes will only mean only about 5% of mortgages will no longer be offered.
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