CFPB Releases Final Rule on Ability to Repay, Leaves Back Door Open on DTI

re: CFPB Releases Final Rule on Ability to Repay, Leaves Back Door Open on DTI

lmomarsh — Fri, 11 Jan 2013 16:10:46 GMT

Granted that a lot of people were taken advantage of and honesty is required in financial businesses, there is a limited amount to be done to protect people. One needs to be an adult to sign a note and mortgage, needs to be able to approximate income and expense and the value of ones collateral. Some people are aware the lender is offering more than they can repay on a loan secured by a property worth less than the loan. Somewhere between "you can't cheat an honest man" and "there's no cure for stupid", the limit of government power to save the public lies.

re: CFPB Releases Final Rule on Ability to Repay, Leaves Back Door Open on DTI

lmomarsh — Fri, 11 Jan 2013 15:59:12 GMT

Granted a lot of people have been taken advantage of and honesty is required of the finan

re: CFPB Releases Final Rule on Ability to Repay, Leaves Back Door Open on DTI

Bryan/Mortgage Finance Group, Inc. — Fri, 11 Jan 2013 00:34:30 GMT

What an absolute travesty; when you let the govt. infiltrate and run an entire industry (health, mortgage, etc.) you lose a little (or a lot) of your freedom and liberties along the way. Way to roll over and allow yourself to be violated, mortgage industry. The rest of the country is not far behind.