New rules go into effect on January 10th related to getting a mortgage. Most of the rules just formalize the practices already in place–higher attention to a borrower’s debt ratios, insuring that a loan doesn’t have negative amortization and the like. Birmingham news station ABC 33/40 interviewed Warner McGowin this week about the new rules. For a full recap, click here for the video–and then select “Home Mortgage Changes” on the top row.
