In January this year, the federal government implemented its latest set of rules aimed at combating fraud in the mortgage industry. Will they affect you, and if so, how? Introduced a year ago, these are called Qualified Mortgage (QM) rules, and they’re designed to provide lenders with a high level of assurance that borrowers who … Continue reading How Do The Newly Implemented QM Rules Affect You?
What Are Qualified Mortgages? In essence, qualified mortgages adhere to a set of guidelines designed to protect consumers from entering into a mortgage they can not repay. Most lenders, including Inlanta Mortgage, already comply with the Qualified Mortgage regulations and document a borrowers’ “Ability to Repay” a mortgage loan. Ability to Repay The “Ability to … Continue reading What are Qualified Mortgages?