Fed Regulators to Mortgage Lenders: No-Doc, No-Loan

As if common sense wasn’t needed in the mortgage industry, new federal regulations require mortgage lenders to verify that prospective borrowers can meet the repayment terms of their mortgage loans. Under the Dodd-Frank Act, the rules prohibit the “no-doc” loans common during the housing bubble. Before making a loan, lenders must document the borrower’s job […]

New Year’s Resolution: Buy A Home

We are wrapping up the 2011 year and are beginning to think about what we wish to accomplish in 2012. The most common goal is to get into shape which leads to half of all gym memberships being purchased in the fist two weeks of the year. (Made that up) There can be vague resolutions such as […]