Big banks push for DTI rule change

The Bank of America, Quicken Loans, Wells Fargo and Caliber Home Loans are joining forces to push for a change in the Consumer Financial Protection Bureau’s Repay/Qualified Mortgage rule, asking it to eliminate its debt-to-income ratio requirement. The CFPB created the Ability to Repay rule following the financial crisis last decade, HousingWire reported. The rule

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Is Your Income Enough For a Mortgage?

One of the biggest problems being faced by both potential buyers and homeowners seeking to refinance is being able to prove that they have enough income to be able to meet the payments.

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