Summary
After a disaster, people often want to figure out how to avoid the debacle again. As we continue to deal with fallout from the housing crisis, regulators working under the Dodd-Frank Wall Street Reform Act are proposing rules to prevent folks from getting into homes they can't afford.
One would require borrowers to come up with a 20 percent down payment. If they don't meet this threshold, their loans would be considered more risky. It would not be a "qualified residential mortgage," or QRM, and therefore the bank would charge more for it.See the full content of this document
Extract
Mortgage Remedy Is No Fix
"Why, in a law intended to fix the mistakes that caused the credit crisis, would you mandate a certain down payment when low down payments were not the problem?" asked Kathlee...
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