Sentences with phrase «qualify under those new guidelines»

«If you switch from a non-verification of employment status, and income and asset status, where you're going to fully verify everything during this transition, you're going to see in excess of 50 to 60 percent of the notes in California go into the can, because they're not going be able to qualify under those new guidelines,» said Michael Zoretich, a mortgage broker in Brookings, Ore..

Not exact matches

Under the Department of Housing Preservation and Development's new guidelines, landlords whose tenants register bed bug complaints will be instructed to hire qualified pest management professionals to treat the infestations.

That's why this past month Erie County, through our Department of Environment and Planning and with assistance procured by Congressman Brian Higgins, built three new homes for the Lackawanna Housing Development Agency to be rented to families who qualified under low income guidelines.

Several government agencies are reviewing data to determine what will be the minimum down payment required under the new Qualified Residential Mortgage (QRM) guidelines scheduled to be revealed in the next few months.

New FHA guidelines announced August 15, 2013, in Mortgagee Letter 2013 - 26 say that borrowers who meet certain criteria and qualify for a loan under FHA requirements will be able to apply for an FHA loan without the usual mandatory waiting period after a foreclosure, short sale or bankruptcy.

Clem Ziroli Jr., president of First Mortgage in Covina, California, believes that some 35 % of borrowers who qualified for FHA loans in the past would be ineligible under the new guidelines.

Under the new guidelines, borrowers with disputed accounts (including collections) totaling $ 1,000 or more will not qualify for an FHA loan.

Since the housing crisis was brought about by borrowing catastrophes, these new lender guidelines being implemented under The Consumer Financial Protection Bureau's Qualified Mortgage (QM) are being put in place to avoid the housing meltdown from happening again.

«Combined with consistent, positive reports on housing starts, permits, prices and builder confidence in recent months, today's data provides further confirmation that a gradual but steady housing recovery is underway across much of the nation,» says Barry Rutenberg, chairman of the National Association of Home Builders (NAHB) and a home builder from Gainesville, Fla. «Consumers who have been on the sidelines during the past few years are deciding now is the time to go forward with a new - home purchase, assuming they can qualify for a good mortgage under today's exceedingly stringent guidelines.»