Tag Archives: underwriting

New ‘Ability to Pay’ and ‘Qualified Mortgage’ Rules Take Effect

Qualified Mortgage

It may be a little bit tougher now for more marginal borrowers to qualify for home mortgages than it was just a few weeks ago. That’s because a series of new rules became effective on Jan. 10 that require lenders ...

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Rule Change Forces Lenders to Disclose Appraisal Documents

Rule Change Forces Lenders to Disclose Appraisal Documents

A new rule, effective Jan. 18, makes the appraisal and loan underwriting process substantially more transparent for the average borrower. Specifically, an amendment to Regulation B, one of the regulatory provisions pursuant to the implementation of the Equal Credit Opportunity ...

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