Seattle RE Chat: Qualified Mortgage (QM) and Ability to Repay (ATR) Rules

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 via a Google Hangout.  Join us next Tuesday!

CFPB’s Qualified Mortgage Rule and the Ability to Repay

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.

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