8 Basic Requirements of the Ability to Repay Mortgage Rule

Ability to Repay Basic Eight Requirements

2014 brings with it many new rules established by this new regulator that have significant impacts not only on the type of loans that consumers have access to but how they are delivered. The rule set minimum requirements that a creditor must consider in making the ability‐to‐repay determination. Eight factors must be considered, at a minimum, in the underwriting evaluation process:

5 Important questions a buyer should ask a lender when purchasing house

Home buying is a daunting task and if you are a first-time buyer, then you will hardly know much about the loan market. You will have to shop around thoroughly and search for genuine lenders who will provide you mortgage loan at suitable terms and conditions. The banks and the different financial institutions provide mortgage…

FAQ – Can I Close My Mortgage Loan Using a Power of Attorney (POA)?

Under normal circumstances, lenders require that all parties to a mortgage agreement be present in person at settlement to sign their loan documents. However, there can be very legitimate circumstances under which it isn’t possible for the borrower to be present Although every lender has a different policy, at AES Lending, our policy is as…