Tag Archive for: qm loans

Gov’t To Loosen Mortgage Rules; Opposite of “QM”

The WSJ’s top headline today is “U.S. Backs Off on Tight Mortgage Rules.” Here is the link. This is significant b/c it is a complete reversal of policy, and it […]Read More

“QM Rules” Hit Today! Yawn…Business As Usual

This is the last time we will discuss this, as we have beaten this dead horse pretty severely. QM news is, however, at the forefront today and cannot be ignored: QM rules officially become effective today. QM stands for Qualified Mortgage, and the rules are an offshoot of the Dodd-Frank bill. As we stated before, the rules limit the amount of fees that can be charged, and they limit debt ratios to 43%. This initially sent shudders oRead More

How Do “QM” Rules Affect Lending? They Don’t At JVM Lending

We have discussed new "QM" (Qualified Mortgage) rules several times, and how the new rules are supposedly tightening lending guidelines. QM prohibits loans with negative amortization, interest-only payments, balloon payments, and terms greater than 30 years. QM also prohibits loans in which the points and fees are greater than 3% of the loan amount.Read More