HUD Defines Two Types of Qualified Mortgages

DSNews:     By: Howard Goldthwaite      12/13/13

HUD has issued a newly revised definition for Qualified Mortgage (QM) which will affect all Federal Housing Administration (FHA) loans moving forward. The new rule goes into effect January 10, 2014, and will apply to mortgages that are insured, guaranteed, or administered through HUD.

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