"Qualified mortgages will be given protection for the bank from lawsuits filed by troubled borrowers or buyers of mortgage-backed bonds."
Another crony capitalism back room deal. How are consumers protected by this? The new rules don't even use a reasonable Debt to Income (DTI) ratio to consider the loan "qualified". Also, how does this protect the secondary market, which banks rely on heavily to keep the gravy train tumbling along...?
Thanks to all who reponded to my question. FPers are the BEST~