Category archives for: Jay Levitt

Qualified Mortgages: How Will QMs Affect This Year’s Real Estate Market?


By Jay Levitt, Guaranteed Rate In 2010, the Dodd-Frank Wall Street Reform and Consumer Protection Act was signed into law in order to prevent a recurrence of the 2008 housing and financial crisis. Included in the act are the most significant regulations to the U.S. financial system since those that followed the Great Depression. One [...]

My Two Cents on Adjustable Rate Mortgages (ARMS)


By Jay Levitt, Guaranteed Rate Most people have heard of ARM mortgages but aren’t sure exactly how they work.  An Adjustable Rate Mortgage or ARM is a mortgage type in which the borrower has a fixed rate or “start rate” for an initial term (3, 5, 7 or 10 years typically), and then after the [...]

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