They take effect October 1, 2009, and require lenders to verify ability to pay, shorten the prepayment penalty period on expensive loans, and require escrow accounts for property taxes and homeowner’s insurance (this one cuts in a year later).
They take effect October 1, 2009, and require lenders to verify ability to pay, shorten the prepayment penalty period on expensive loans, and require escrow accounts for property taxes and homeowner’s insurance (this one cuts in a year later).