8 Basic Requirements of the Ability to Repay Mortgage Rule

Ability to Repay Basic Eight Requirements

2014 brings with it many new rules established by this new regulator that have significant impacts not only on the type of loans that consumers have access to but how they are delivered. The rule set minimum requirements that a creditor must consider in making the ability‐to‐repay determination. Eight factors must be considered, at a minimum, in the underwriting evaluation process:

Private Mortgage Insurance helps lead the way in the Housing Recovery

Private Mortgage Insurers leading the way in housing recovery   One of the earliest indicators of the housing meltdown which began in 2007 was that issuers of Private Mortgage Insurance (PMI) began to contract their underwriting guidelines for issuing PMI policies.  In fact, so bad was the meltdown that many PMI companies either stopped issuing…

How to get a No Money Down USDA mortgage loan in Raleigh

Ricardo Cobos is a Mortgage Loan Officer in Raleigh North Carolina helping people achieve financial security through responsible homeownership using great no money down loans programs like the USDA Guaranteed Rural Development Loans call 877-212-7784 to speak with an experienced loan officer today.