Posted on January 24, 2014 - 01:10 PM
by Shannon Copeland
The Consumer Financial Protection Bureau's (CFPB) new qualified mortgage rule has gone into effect as of last week. In a nutshell, if you apply for a mortgage, you have to be able to prove that you have the ability to repay the mortgage in full. There were several other stipulations for mortgages that fell under new rule, as explained in the article published in The Washington Post.
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