Industry NewsMortgage

New mortgage rules could crimp lending

Lenders likely to demand larger down payments from buyers in high-cost markets
Published on Jan 15, 2013 | Updated on Apr 23, 2013

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by CareyBot

Though the new "ability to pay" (aka Qualified Mortgage or QM) rules released last week by the Consumer Financial Protection Bureau drew extensive media coverage, there are still widespread misunderstandings about how they'll work in practice. That probably shouldn't be a surprise since the regulations weighed in at a chunky 804 pages.

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