- Q and A with Mayor Steve Williams: Audits ALWAYS have Findings....
- Q and A with Councilman Caserta: Mayor Needs to be Held Accountable, Independent Audit Necessary
- Special Prosecutor Will Be Appointed in Cabell County Regarding State Police Investigation of Mayor's Sick Leave Payment to Skip Holbrook
- Donations Needed for Guyandotte Christmas Open House Planned Dec. 23
- Complaint alleges Stockert-Sizemore Funeral Home violated the West Virginia Preneed Act and state Consumer Credit and Protection Act.
- UPDATED...State Auditor Citied Lack of Adequate Policies, Controls for Some Huntington Financial Materials, 2013 and 2014
- Marshall University Board of Governors to hold emergency meeting this afternoon
- The ACLU of West Virginia Urges Governor Tomblin and Legislature to Enact Reforms to Keep Truant Children Out of Juvenile Court
- Bid Specifics Revealed in Huntington Street Sweeping Program
- CFPB Takes Action to End Student 'Debt Relief' Scams; CFPB Warns Borrowers About Companies Charging High Fees for Free Federal Loan Repayment Programs
Statement from NAHB Chairman Barry Rutenberg on Qualified Mortgage Rule
Thursday, January 10, 2013 - 20:49 By David M. Kinchen Huntingtonnews.net Business and Real Estate Writer
“We appreciate the hard work the Consumer Financial Protection Bureau has put into this effort to create a qualified mortgage standard that ensures home buyers have access to affordable mortgages, contains strong consumer protections and provides lenders proper incentives to make home loans to creditworthy borrowers.
“The qualified mortgage rule stipulates that borrowers must be able to repay home loans issued to them and will set the parameters for all mortgage financing going forward. So it is essential that it strikes the proper balance that encourages lenders to provide creditworthy borrowers access to affordable home loans, and also gives assurances to financial institutions that they will be protected from lawsuits if they meet the criteria set forth in the rules.
“Our initial review of the QM rule indicates that this balanced approach can be achieved. NAHB is encouraged that regulators heeded concerns from the housing industry to craft a broad standard that includes many of today’s sound mortgage products, including fixed-rate and adjustable-rate mortgages, under the QM standard.
“The rule will take effect next January. To spur the revival of the home lending market, it is essential that regulators act prudently and thoughtfully in the coming year to implement this rule in a sensible manner to avoid disruptions to the housing finance system and ensure qualified borrowers can obtain affordable credit.”