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Proposed Alternative Definitions for Qualified Mortgage

The Dodd-Frank Act prohibits a creditor from making a residential mortgage loan unless the creditor makes a reasonable and good faith, verified determination that the consumer has a reasonable ability to repay the loan.

http://thebreakingstory.com/personal-finance/proposed-a
lternative-definitions-for-qualified-mortgage/8549.html
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Tags: ambiguity | amortizing | employment-status | federal-reserve-board | financial-resources | residual-income
first added by michellepash, last updated 9 months 14 days ago