Many of the country’s top lenders and financial associations have been pressuring the Consumer Financial Protection Bureau (CFPB). They have been asking to eliminate the strict debt-to-income (DTI) ratio requirement that is currently part of the Ability to Repay/Qualified Mortgage (QM) rule. What Are the Current DTI Requirements? Mortgage loan Continue Reading →
A vast majority of home loans are considered Qualified Mortgage (QM) loans, which comply with strict regulations set forth by the Consumer Financial Protection Bureau (CFPB) and come with liability protection if the borrower is unable to keep up with payments. These are preferred by most lenders because they generally Continue Reading →
Did you know that there is a way to have the financial benefits of owning a second property while still having it considered “owner occupied?” It can be done if the house is lived in by your parents or a disabled child. Call it loophole or whatever you want, but Continue Reading →
Last week, President Trump officially signed the Blue Water Navy Vietnam Veterans Act into law. The timing is just about perfect, right before the 4th of July! This new bill has been in the works for some time and it greatly impacts the benefits that veterans can receive. Some aspects Continue Reading →
There’s no doubt that the banking industry has changed a lot in the past 10-20 years with the advance of technology, with so business done over the internet and through apps. These changes have greatly affected the mortgage industry. If you go way back in time, there were a lot Continue Reading →
