{"id":1192,"date":"2014-02-12T19:01:38","date_gmt":"2014-02-12T19:01:38","guid":{"rendered":"http:\/\/www.orangesand.com\/?p=1192"},"modified":"2014-02-12T19:01:38","modified_gmt":"2014-02-12T19:01:38","slug":"new-loan-rules-mean-new-worries","status":"publish","type":"post","link":"http:\/\/www.thebains.com\/blog\/2014\/02\/12\/new-loan-rules-mean-new-worries\/","title":{"rendered":"NEW LOAN RULES MEAN NEW WORRIES &#8230;&#8230;&#8230;&#8230;.."},"content":{"rendered":"<p>One of the stickier points of the new Qualified Mortgage rule is the debt-to-income ratio requirement being set at 43% and 3% cap on some of the fees associated with closing costs charged by parties that are affiliated with each other.\u00a0 The fees are capped at 3% if loan is more than $100,000 or at much as 5% of a $20,000 to $60,000 loan.\u00a0 If the cap on fees is 3% then lenders will have to adjust their fees and those charging REASONABLE FEES SHOULD HAVE NO PROBLEM.\u00a0 All of this is from the Dodd-Frank Act of 2010 to stop predatory lending practices.\u00a0 There are a few exceptions.\u00a0 Get with a COMPETENT LOCAL LENDER when applying for a loan!!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>One of the stickier points of the new Qualified Mortgage rule is the debt-to-income ratio requirement being set at 43% and 3% cap on some of the fees associated with closing costs charged by parties that are affiliated with each other.\u00a0 The fees are capped at 3% if loan is more than $100,000 or at [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[],"tags":[],"_links":{"self":[{"href":"http:\/\/www.thebains.com\/blog\/wp-json\/wp\/v2\/posts\/1192"}],"collection":[{"href":"http:\/\/www.thebains.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.thebains.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.thebains.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"http:\/\/www.thebains.com\/blog\/wp-json\/wp\/v2\/comments?post=1192"}],"version-history":[{"count":1,"href":"http:\/\/www.thebains.com\/blog\/wp-json\/wp\/v2\/posts\/1192\/revisions"}],"predecessor-version":[{"id":1193,"href":"http:\/\/www.thebains.com\/blog\/wp-json\/wp\/v2\/posts\/1192\/revisions\/1193"}],"wp:attachment":[{"href":"http:\/\/www.thebains.com\/blog\/wp-json\/wp\/v2\/media?parent=1192"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.thebains.com\/blog\/wp-json\/wp\/v2\/categories?post=1192"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.thebains.com\/blog\/wp-json\/wp\/v2\/tags?post=1192"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}