Mortgage Bankers
Banker: These new rules make so much sense!!
Underwriting Rules
1. Ensure borrower can afford loan.
2. Ensure borrower can afford loan.
Uncle Sam: Those are the old rules.
The were the way lenders always did business, until govt got after them to start loaning money to people that … couldn’t afford the loan – in the name of fairness. (Reckless Endangerment, read it, and not just the dustcover.)
The were the way lenders always did business, until govt got after them to start loaning money to people that … couldn’t afford the loan – in the name of fairness. (Reckless Endangerment, read it, and not just the dustcover.)