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
Most Popular Articles
Latest Articles
Pennymac posts first-quarter profit of $39M
Loan production income shrank in the first quarter, but the company’s servicing business continues to grow
-
DOJ charges one of America’s top LOs in alleged mortgage fraud scheme
-
Top Producer Review: Features, pricing & alternatives
-
A&D Mortgage names new servicing manager
-
HUD aims to help protect communities from extreme heat
-
Freedom Mortgage founder addresses ’extraordinary’ credit profiles, profitability and products