Mortgage Regulations and Qualified Mortgage Info

Mortgage regulations are changing again, and it may be in your interest as a buyer to know what’s going on.

The Consumer Financial Protection Bureau (CFPB) recently announced new mortgage rules.

Basically, A qualified mortgage meets criteria as defined by the CFPB. When a lender makes a qualified mortgage, it is entitled to legal protection for the loan from distressed borrowers or buyers of mortgage-backed securities.

Call, text, or email me today! 

I’d seriously enjoy having the opportunity to talk to you about your plans if you’re moving, or if you know someone who is considering a move, and needs some straight answers.

Lenders basically want to limit their risk. Big surprise there huh? Well fortunately, many of the loans these days fall into this category of the CFPB

Here are the loans which are considered qualified mortgages essentially by default:

  • Loans that are eligible to be sold to Fannie Mae or Freddie Mac
  • Loans insured by HUD, VAUSDA, or the Rural Housing Service

Loans that fall outside of those criteria must meet qualified mortgage standards to garner legal protection.

Here’s a quote from the veterans united website:

How is the Industry Responding?

Opinions vary as to the effectiveness of the new regulations, but most industry analysts believe the CFPB guidelines resemble what’s already happening in the marketplace.

Will the new regulations change the lending industry? At this point, probably not drastically. Lenders have already tightened standards and pinched the cash flow.

My best advice, talk to a local, experienced, and recommended Banker, Loan Officer or Mortgage broker, who has done business and can provide referrals from delighted clients, and who can help you get qualified to know exactly what you’re dealing with today.

What was true a few weeks ago, may have changed by today.

Especially in this very active and competitive market where many sellers are getting multiple offers at or above their list price, you need to know your qualified for the right loan, amount and can perform BEFORE you look at houses and have your agent prepare an offer.

Zachary Epps, GRI, ABR, REALTOR®, Eco-Broker®, full-time RE/MAX professional, and author of

The Boulder Real Estate and Neighborhood Guide 

The Boulder Condo Guide 

The Home Buyer’s Handbook

Call, text, or email me today!… I’d seriously enjoy having the opportunity to talk to you about your plans if you’re moving, or if you know someone who is considering a move, and needs some straight answers.

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