New Rules Could Make Mortgages More Elusive for Some in Marin
I was quoted by writer Janis Mara, in our local newspaper, the Marin Independent Journal regarding the mortgage regulations that became effective January 10. This article strikes a tone that I think is valid --- that is, the Qualified Mortgage (QM) rules should not have a profound impact on Marin real estate, simply because of the profile of our average transaction and our average borrower/buyer.
However, I do think a reader could get the impression from some of the other real estate pros who were quoted that too high a percentage of Marin buyers would be immune to Dodd-Frank's expansive reach. In fact, I believe Dodd-Frank will affect EVERY borrower, but perhaps not detrimentally and at first.
Yet a third aspect of this article is that time will tell just how lenders and investors will adjust in this new era of mortgage finance. Nothing could be more true than this.
Comments(0)