Mixed Lender Earnings; 900 Pages of Revised Servicing Rules; Who Can Keep Up?

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Posted To: Pipeline Press

There’s no question that rent levels in many urban areas are helping lenders. Research by ApartmentList.com finds the most expensive cities, in order for apartment rents, are San Francisco ($4,780 median rent for a 2-bedroom apartment), New York City ($4,450), Jersey City ($3,080), Washington DC ($2,990), and Boston ($2,900). What does the U.S. government think about rent? Government definitions consider renters who spend 30% of their income on housing to be “cost burdened” while those who spend 50% or more are considered “severely burdened.” As every month goes by I become more and more amazed about how smaller companies can not only keep track but adhere to, and pay for, the constant flood of rules, regulations, proposed amendments, and federal & state statutes…(read more)

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