Saturday, 4 April 2009
State Cracking Down on Mortgages
Posted on 05:20 by Unknown
New mortgage rules have been finalized in Pennsylvania as state officials try to prevent a repeat of some of the risky lending practices that led to the foreclosure crisis.The rules require mortgage companies to document a borrower's ability to repay a loan and require lenders to make extra efforts to disclose complex loan features that might make loans hard to repay.The rules are part of a new
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