5 Highlights From The Fed's New Mortgage Rules
Source: The Atlantic | April 19, 2011
The Federal Reserve proposed some new mortgage rules that might not seem particularly radical: it wants lenders to be sure that borrowers can actually afford the loan they're given. The Fed intends to force lenders to ensure that borrowers can afford loans in a few ways. Although these rules don't take many drastic steps in changing the way most banks write mortgages, they sure would have been helpful about seven years ago. The Fed wants to avoid bad mortgage products and borrowers who cannot afford their mortgage. Doing so should help to create a more stable housing market in years to come. [Read this article]
Comments (0)Subscribe to CommentsComment