Brand new proposed ability-to-pay conditions for longer-label secured financing closely tune this new recommended criteria to own quick-name secure fund
Longer-title loan feature-to-pay off requirements
A lender would need to make, under specific items, more assumptions or guesses whenever contrasting a consumer’s capability to repay an extended-term shielded mortgage otherwise credit line
Just as the short-identity mortgage element-to-pay conditions, lenders might possibly be necessary to determine good borrower’s power to pay a lengthier-name protected mortgage and make all of the necessary money since the […]