Niche lending is hardly a new phenomenon but with the tightening of lender balance sheets in recent years niche lenders have become more valuable to real estate professionals as they refer their clients to their trusted referral partners. Agents want to refer their clients to lenders they trust will get the job done right and be an extension of the customer service they have built their business on. Read more…
Posts Tagged: debt to income ratio
How the New Qualified Mortgage Rule will Impact Massachusetts Residents
Effective January 10th 2014, the pendulum of mortgage underwriting is going to be taking another swing towards facilitating a safer lending environment for the residents of Massachusetts. The Consumer Financial Protection Bureau, or CFPB for short, has recently finished creating the Qualified Mortgage rule (QM). This new QM will become the blueprint that the vast majority of MA lenders will begin to utilize for qualifying mortgage applicants. Read more…