Prohibiting a mortgage servicer from making or modifying certain mortgage loans without giving due regard to the borrower's ability to repay the loans; requiring that due regard to a borrower's ability to repay include consideration of a debt-to-income ratio and verification of certain income and assets through the review of certain written documentation; and exempting certain mortgage loans from the Act.
Bill File Type: Regular
Effective Date(s): October 1, 2020
( 11-522 )
Last Updated: 3/11/2020 3:07 PM