Tag Archives: Ability to Repay

House passes HR 3211 the “Mortgage Choice Act”

On June 9, the U.S. House of Representatives unanimously passed H.R. 3211, the Mortgage Choice Act of 2013.  The bill, sponsored by Rep. Bill Huizenga, R-Michigan,  specifically exempts fees paid to businesses affiliated with the lender, such as title companies, from … Continue reading

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Qualified Mortgage and Ability to Repay Rule aim to aide consumers

The Qualified Mortgage Rule, which includes the new Ability to Repay requirements became effective today.  This article gives a good overview of the rule and what outcome it might have on the mortgage industry. http://www.usatoday.com/story/money/business/2014/01/09/qualified-mortgage-borrowers-consumer-protection/4361281/

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The Qualified Mortgage (QM) Rule goes into effect tomorrow January 10th…

Here is some good news from the lending community… http://www.nationalmortgagenews.com/features/Lenders-Are-Not-as-Worried-About-Interruption-from-QM-Rule-1040553-1.html

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