For borrowers, the new rule could make it harder to qualify for ARMs since all lenders will be using rates that are higher than the initial rate available on this loan. Experts say it could lead to fewer ARM originations once the rule is implemented.
QM rule: A potential stumbling block for ARMs
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GAO highlights reverse mortgage counseling in new report
Older adults need more information about financial programs, with GAO citing the HECM counseling program as an age-targeted example.
