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How Trump's Plans To Curb Financial Protections May Affect You

Friday, April 21, 2017
Roger Yu | USA Today

Under the qualified mortgage rules, banks are largely banned from offering certain "harmful loan features," such as an “interest-only” period, loan principals that increase over time, balloon payments that come due at the end of a loan term and loan terms longer than 30 years. Such loans are safer for the financial industry and perform better for banks, says Sarah Wolff, senior researcher at Center for Responsible Lending.