FHA will propose qualified-mortgage rule

03/1/2013 | Bloomberg

The Dodd-Frank Act allows the Federal Housing Administration to propose its own qualified-mortgage rule, which governs lenders and ensures they establish a borrower's ability to pay back the mortgage. The rule also protects borrowers against predatory lending. "We're undertaking that process and will publish a proposed rule for comment in the near future," FHA spokesman Brian Sullivan said.

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