Congress has been working on new mortgage legislation that should expand access to credit and help improve the housing industry.
“The latest version of the rules, proposed last summer, broadens the number of exemptions to the general requirement for those originating loans to keep 5% of the credit risk on their books. Mortgages guaranteed by federal agencies or meeting the standards of the new Consumer Financial Protection Bureau, for instance, will be exempt from this so-called risk-retention rule,” acclaimed financial author Darrell Delamaide reports in an USA Today article.
Read the USA Today article, Delamaide: Reforms near to ease mortgage lending.
The Marimark Mortgage Newsletter will keep you informed with important events in the mortgage industry that could impact your finances.
We especially focus on ways to save money on your current and future mortgages. And, we continually share the information we share with our clients, because we believe informed consumers are the best consumers.
Real estate agents, and other professionals in the industry, will receive an ongoing wealth of information that will help them serve their clients.
