Mortgage Suitability

A standard to which mortgage lenders can adhere when directing consumers to a mortgage loan. Under such a standard, mortgage lenders would be held liable for steering consumers toward an unsuitable mortgage. While no federal suitability standard currently exists, lenders are vehemently opposed to such a standard because they argue that they cannot possibly collect and know all of the information required to make a decision for a consumer.

Mortgage financial literacy is an alternative solution to setting suitability standards. The choice of a mortgage is a standard risk versus reward scenario, which is prevalent in most financial decisions. Informed and educated consumers can make effective mortgage decisions in the context of risk versus reward.


Investment dictionary. . 2012.

Look at other dictionaries:

  • Germany — /jerr meuh nee/, n. a republic in central Europe: after World War II divided into four zones, British, French, U.S., and Soviet, and in 1949 into East Germany and West Germany; East and West Germany were reunited in 1990. 84,068,216; 137,852 sq.… …   Universalium

  • Citigroup — Not to be confused with CIT Group, another large financial services company. Citigroup Inc. Type Public Traded as NYSE:  …   Wikipedia

  • Loan origination — is the process by which a borrower applies for a new loan, and a lender processes that application. Origination generally includes all the steps from taking a loan application through disbursal of funds (or declining the application). Loan… …   Wikipedia

  • property law — Introduction       principles, policies, and rules by which disputes over property are to be resolved and by which property transactions may be structured. What distinguishes property law from other kinds of law is that property law deals with… …   Universalium

  • Annunciation Melkite Catholic Cathedral (Roslindale, Massachusetts) — Coordinates: 42°17′51.03″N 71°8′3.7″W / 42.2975083°N 71.134361°W / 42.2975083; 71.134361 …   Wikipedia

  • Marilyn Monroe — Monroe in The …   Wikipedia

  • Economy of Pakistan — Pakistan is a nation with a diverse economy that include textiles, chemicals, food processing, agriculture and other industries. It is the 25th largest economy in the world.The economy has suffered in the past from decades of internal political… …   Wikipedia

  • Beer in England — Traditional beer pump English beer has a long history and traditions that are distinct from most other beer brewing countries. Beer was the first alcoholic drink to be produced in England, and has been brewed continuously since prehistoric… …   Wikipedia

  • Newington, New South Wales — Newington Sydney, New South Wales Newington Marketplace Population …   Wikipedia

  • List of Statutory Instruments of the United Kingdom, 1996 — This is a complete list of all 2071 Statutory Instruments published in the United Kingdom in the year 1996. NOTOC 1 100* Insurance Companies (Pension Business)(Transitional Provisions) (Amendment) Regulations 1996 S.I. 1996/1 * Sea Fishing… …   Wikipedia

Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”

We are using cookies for the best presentation of our site. Continuing to use this site, you agree with this.