New Mortgage Regulations Will Limit Consumer Choices

New regulations were implemented on January 10, 2014 that limit consumer choices on what type of loan works for them or, in some cases, hurts consumers’ access to credit altogether.  The rules are a part of the Dodd-Frank Wall Street Reform and Consumer Protection Act.  In short, the Consumer Financial Protection Bureau will determine, on a one-size-fits-all scale, what is considered a “Qualified Mortgage.”