Suitablity test may backfire

Congressional report backs suitability, predatory lending standards: “The Mortgage Bankers Association and others in the lending industry have urged lawmakers not to go too far in regulating them, saying market forces have already led to a tightening of lending standards. Industry groups are particularly concerned about the imposition of a suitability standard, saying it would make it impossible for many people to obtain a home loan.”

Welcome to the Arizona Mortgage Guru blog, a great resource for all your home financing needs. If you're new here and like the content, you can subscribe to my RSS feed to get regular updates on all things related to mortgages. Thanks for visiting.

Related posts brought to you by Yet Another Related Posts Plugin.