There may come a time next year when heading to a community bank or a credit union for a mortgage may be more attractive than approaching a large bank. The government’s new mortgage rules, released Thursday, included a key standard — consumers can’t get a “qualified” mortgage if they have debts exceeding 43% of their income.
QM rule may bolster credit union, small bank lending
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U.S. mortgage delinquency rates remain near historic lows: CoreLogic
The share of mortgages that were six months or more past due fell to its lowest level in 15 years in February