Revisions of ability to repay/qualified mortgage rules diminished the ability to make balloon loans, although a small revision hours before expiration of one of the ATR/QM options retained the viability of balloon loans. For many creditors the last minute change came too late and they had already moved to ARM loans.
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Learn more about Jack and Kelly’s webinar ARM Disclosures – Review and Update
ARM’s? Is there anything new?
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Question:
ARM’s have been around forever, why are they an issue now?
Answer: