‘Ability to pay’ in 475 pages
Four hundred seventy-five pages.
That's the length of the Federal Reserve's latest notice of a proposed rule to implement a federal law that says lenders must determine whether a borrower has the ability to repay a mortgage.
The issue of whether a borrower can repay a loan is naturally somewhat tricky.
But 475 pages?
That's longer than most novels, and
This entry was posted in Mortgages and tagged ability to pay, Federal Reserve, mortgage payment, Mortgages. Bookmark the permalink.
