The current market portends a promising future for growth of Phoenix. We have survived one of the worst real estate recessions of all times, and now we are moving into time of expansion for housing. In a state that sees sunlight 85 percent of the year, the future of Metro Phoenix's housing market is just as bright!
The QM rules, which will go into effect January 2014, represent a reasonable and responsible move by the CFPB to reduce risky lending. The rules are intended to further stabilize the lending environment and foster a more expedient housing recovery. Let me break out some of the CFPB's key requirements for a General Qualified Mortgage