In combination with regulations that require creditors to consider the borrower’s ability to pay and disclosures that are clear about the cost of credit, these hard lessons could lead to more sustainable credit decisions by lenders and borrowers alike.
7  See Board of Governors of the Federal Reserve System (2010), Statistical Release Z.1, “Flow of Funds Accounts of the United States: Flows and Outstandings Fourth Quarter 2009 (493 KB PDF)” (March 11). 8  See http://www.federalreserve.gov/boarddocs/SnLoanSurvey/201005/fullreport.pdf. 9  See Fannie Mae, “2010 National Housing Survey”, http://www.fanniemae.com/about/housing-survey.html.