Non Owner Business Purpose loans are gaining popularity
Wednesday, August 29
Non Owner Occupied business purpose loans are made outside of the Dodd Frank guidelines and therefore follow different guidelines which focus on the 51% rule. This rule means that at least 51% of the loan proceeds are used for Business Purpose, which include home improvements, repairs, purchase o...
Dodd-Frank Wall Street Reform and Consumer Protection Act
Tuesday, August 28
The Dodd-Frank Wall Street Reform and Consumer Protection Act was signed into law in the summer of 2010. The act created minimum standard for mortgages including the Ability to Repay rule and a Qualified Mortgage definition. These rules were adopted by the Consumer Financial Protection Bureau CFP...