New Legislation For Lenders

    New rules coming down from Federal Reserve Chairman Ben Bernanke aim to prevent the current mortgage lending crisis from happening again in the future. The rules will require stricter requirements for proving income of borrowers, limiting or eliminating pre-payment penalties. The changes will also require lenders to consider the borrowers ability to repay from sources other than the home’s value.

    Read more.

    Comments are closed.

    About our blog

    Our agents write often to give you the latest insights on owning a home or property in the Eastern Washington area.

    Archives