Federal regulators proposed on Wednesday a new rule that would make mortgage lending standards less restrictive. The proposed new Qualified Residential Mortgage rule, released jointly by six government agencies, was cheered by both consumer advocates and mortgage industry members–who typically don’t see eye-to-eye on much–largely because it eliminates much stricter down payment rules that the…
Tax-free savings accounts help Americans stow away money for health care and college tuition. Why not a tax-exempt account for yet another major expense: the down payment on a mortgage? A coalition that includes real estate developers and investors has been floating the idea as part of a package of reforms intended to overhaul federally…