New Mortgage Rules Will Help Millions of Homebuyers
Proposed revisions to the qualified residential mortgage rule announced last month will help millions of people buy homes and strengthen the mortgage market. NAR worked for nearly two years to convince regulators that the initial proposed mortgage rule was overly strict and would have denied millions of creditworthy Americans access to the lowest cost and safest mortgages. The new standards are stringent enough to protect consumers from unscrupulous lending practices while also creating new opportunities for private capital to reestablish itself as part of a robust