Welcome!




Expand Your Education with These Courses from
Time Management: Skills for Sales Success: Part Two.
Accredited Buyer's Representative.
Bundle 1: CIPS Core Course (US Version).
Bundle 2: CIPS Elective Courses (US Version).
Bundle 3: CIPS Institute (Non-US Version).

Reasonable Mortgage Rules Make Homeownership Dream a Reality

Interested in more details on this topic? Click here!

By Margaret Kelly

family_in_new_homeWith interest rates creeping up in recent months, some homebuyers have had to adjust their game plans—and their price ranges—in order to make their move. But even with slightly higher interest rates, home affordability remains very attractive.

One key issue with the potential to put a damper on buyers’ dreams of homeownership seems to be getting the attention it deserves. Regulators are looking to soften the Dodd-Frank requirements that could’ve had a tremendous impact on millions of homebuyers in the form of strict lending regulations.

If you’re unfamiliar with Dodd-Frank, here’s a brief synopsis. When the downturn hit, lawmakers blamed banks and other lenders with doling out risky subprime loans to borrowers who couldn’t really afford them. To protect consumers from this type of activity and avoid another housing collapse, Congress passed the Dodd-Frank Act, which, in turn, created the Consumer Financial Protection Bureau (CFPB).

The CFPB is now tasked with establishing the specific definitions of a “qualified mortgage” and the “qualified residential mortgage.” The result of these regulations is that only borrowers with the most pristine credit could qualify for a home loan. Others would either not be able to obtain a loan or would be forced to pay much higher rates.

Continue Reading 1 2 3

Want instant access to great articles like this for your blog or newsletter? Check out our 30-day FREE trial of REsource Licensed Real Estate Content Solutions. Need easy stay-in-touch e-Marketing solutions too? Try Pop-a-Note for 99 cents!
Join RISMedia on Twitter and Facebook to connect with us and share your thoughts on this and other topics.




Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>

Copyright© 2014 RISMedia, The Leader in Real Estate Information Systems and Real Estate News. All Rights Reserved. This material may not be republished without permission from RISMedia.

Content on this website is copyrighted and may not be redistributed without express written permission from RISMedia. Access to RISMedia archives and thousands of articles like this, as well as consumer real estate videos, are available through RISMedia's REsource Licensed Content Solutions. Offering the industry’s most comprehensive and affordable content packages. Click here to learn more! http://resource.rismedia.com

Our Latest News >>