Posted on
September 23, 2014
The Federal Reserve Bank of New York (FRBNY) released new evidence on the relationship between student loan debt and home ownership. It essentially states that student debt now exceeds aggregate auto loan, credit card, and home-equity debt balances—making student loans the second largest debt of U.S. households, following mortgages.
Click here to learn more about the study.
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Posted on
February 13, 2014
The CFPB’s (Consumer Financial Protection Bureau) new Ability-to-Pay Rule took effect on January 10, 2014. This new rule amends regulation Z under the authority of the Dodd-Frank financial industry reform. It requires mortgage lenders to consider consumers’ ability to repay home loans before extending them credit. There is also a category of loans, called “qualified mortgages,” that limit how much home buyer’s income can go toward debt.
How...