New Qualified Mortgage Rules Go into Effect Jan. 2014

New Qualified Mortgage Rules Go into Effect Jan. 2014

Are you familiar with a Qualified Mortgage (QM) and the new rules surrounding QMs beginning in early 2014? If not, you’re in the right place. Quicken Loans team members Shawn Krause, Executive Vice President of Government Relations and Amy Bishop, Deputy Corporate Counsel took the time to explain the new rules. If you’re interested in finding out about QM and how the new rules may impact you, take a look at the discussion I had with Shawn and Amy.

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Reform on Reverse Mortgages: A Brief Introduction

Reform on Reverse Mortgages: A Brief Introduction

On Friday afternoon, the Reverse Mortgage Stabilization Act was signed into law by President Barack Obama just days after his speech outside of Phoenix addressing ways to improve the housing market. The bill, initially drafted by Rep. Mike Fitzpatrick (R-PA.) and Rep. Denny Heck (D-WA.), passed through the House and Senate in June and July respectively and is only one of 22 pieces of legislation to pass in this session of congress. How will this change the way reverse mortgages work? Read on to find out.

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