Indiana Real Estate Post

QM is coming - Rules are Getting Worse

 If you’re not aware, QM rules are heading your way come January 2014. Lenders will have to retain a portion of the loan made if the loan to value is greater than 80%. What this is going to do is force smaller lenders, who don’t have large amounts of liquid cash, to only fund loans where the buyer is putting at least 20% down. Well there was a lot of push back on this from several organizations and associations because this would mean that many minority and low income families financing options would be realty reduced perhaps even eliminated. Based on the push back this r...

October 23rd, 2013 | Indiana Home Loans, Indianapolis Mortgage, Mortgage Info, QM is coming - Rules are Getting Worse

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