Post Profile






Uncle Sam just made it harder to get a mortgage. That's a good thing.

Starting Friday, it will be a little bit harder to get a home mortgage. Or more precisely, banks and lenders will have to work a little bit harder to make sure borrowers can afford to buy a house, leaving some number of would-be homeowners out in the cold. And that's because Jan. 10, 2014, is the day that the new Consumer Financial Protection Bureau (CFPB) steps in to oversee the mortgage industry.
read more

share

Related Posts


The Home Front: A Nonprofit Lender Revives the Hopes of Subprime Borrowers

Business & Finance / Personal Finance : Bucks

An unconventional lender is trying to make it easier for low-income people to buy houses despite the tighter requirements that other lenders adopted after the mortgage bust.

FHA Urges Mortgage Forbearance During D.C. Shutdown

Business & Finance / Mortgage & Banking : Mortgage Lender Implode-O-Meter

``Banks and mortgage lenders should "make every effort to communicate with and assist affected borrowers," FHA Commissioner Carol Galante said in a letter to lenders Friday. The FHA wants lenders to offer informal forbearance plans,...

New Rule Lets Lenders Judge Whether People Can Actually Afford Mortgages

Business & Finance : Business Insider: Clusterstock

When it comes to placing blame on mortgage lenders, regulators, or consumers for 2008's crippling housing crisis, it's fair to say each played a role. Yes, banks issued millions of mortgage loans that homebuyers couldn't afford, tar...

Bank of England toughens mortgage affordability test

Business & Finance : Business Report

The Bank of England sought to put the brakes on Britain's surging housing market by announcing a cap on home loans and tougher checks on whether borrowers can repay their mortgages. ||| London - The Bank of England sought to put the...

A top mortgage industry executive explains why banks don’t want to take a chance on some borrowers?

Business & Finance : Ezra Klein

For at least a year, the Obama administration has been pushing lenders to make mortgages more widely available to responsible people looking to buy homes. “Now that we’ve made it harder for reckless buyers to buy homes that they can...

Comments


Copyright © 2016 Regator, LLC