January 8th, 2014 1:46 PM by Melanie Mitchell - Team Lead/Listing Specialist
This Friday, 1/10/14, the Consumer Financial Protection Bureau is implementing the new Qualified Mortgage and Ability to Repay rules for all lenders across the country. The rules pertain to most all mortgages, except for reverse mortgages and home equity lines of credit. They will even pertain to “portfolio loans” that don’t comply with Fannie Mae/Freddie Mac or FHA/VA/USDA guidelines.A few things to note:
Click here for Gershman Mortgage flyer with more information..
Senior Mortgage Advisor with Gershman Mortgage