Helping Washington State homeowners learn more about their mortgage options.
In this episode of Seattle Real Estate Chat, Jim Reppond and I discuss recent changes to mortgages with “qualified mortgage” and “ability to repay” which rolled out earlier this month.
Seattle RE Chat is a weekly live show that Jim Reppond and I co-host every Tuesday morning at 10:00 am PST at www.seattlerechat.com via a Google Hangout. Join us next Tuesday!
Today the CFPB released the “ability-to-repay” and “qualified mortgage” rule which is set to go into effect next year on January 10, 2014. These new laws will require that lenders consider a borrowers ability to repay a mortgage.
Rhonda Porter is a Licensed Mortgage Originator MLO121324 living in the greater Seattle area. Rhonda began her career in 1986 in the title and escrow industry and began her mortgage career in 2000. She enjoys helping people understand the mortgage process and started writing The Mortgage Porter in late 2006. Read More…
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