The industry's worst fears about higher costs and less available credit stemming from the Consumer Financial Protection Bureau's mortgage rules have not materialized in the years since those regulations were written, the bureau said Thursday.

The CFPB on Thursday published its five-year "look-back" review of its ability-to-repay — also known as Qualified Mortgage — rule and a separate report on mortgage servicing rules that together created new standards in response to the mortgage crisis.

The CFPB found that the QM rule — issued under former CFPB Director Richard Cordray— had little impact on borrowers’ access to credit or pricing.

“At the aggregate market level, the Rule does not appear to have materially increased costs or prices,” the report said.

Rather, the bureau’s report reiterated what many in the industry at the time said about the mortgage market: Credit restrictions were driven by mortgage lenders’ desire to avoid litigation and other risks associated with the rule.

CFPB Director Kathy Kraninger wrote that the reports are “not the end of the line for the Bureau.”

Read more in American Banker.