What the New Mortgage Rules Mean for Borrowers

Published January 31, 2014

Whether you’re refinancing your home loan or planning to buy a home in 2014, you’ll be among the first consumers to apply for a mortgage under new rules established by the Consumer Financial Protection Bureau.

Known as “Qualified Mortgages” or QM regulations, these new rules are meant to protect consumers from unsustainable loans and to prohibit lenders from approving loans for unqualified borrowers. The rules, part of the aftermath of the housing and financial crisis, change the availability of some loan programs and limit the fees that lenders can charge to consumers. Read the full article at realtor.com news – http://ow.ly/t2WsR