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Heads up Realtors: New mortgage lending rules will likely delay home closings

2015-06-18 14:09:35| Real Estate - Topix.net

New federal regulations taking effect this summer will provide a better home buying experience for consumers, but will likely slow down the closing process for Realtors, mortgage lenders and title companies, according to Mike McFarland , outgoing president of the Houston Mortgage Bankers Association and a senior loan offer with San Antonio-based Legacy Mutual Mortgage. "This is going to reorganize how the entire real estate industry closes transactions," McFarland said.

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