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Ability to * Front-end * Debt-to-income Repay debt-to-income ratio ratio cannot exceed cannot exceed 28% 43% (does not * Back-end break out debt-to-income debt-to-income ratios ratio cannot into front or exceed 36% back end) Assumability * Not assumable by any person who was not a borrower under the original mortgage transaction Government * QM if eligible for Sponsored purchase, guarantee Enterprises or insurance by a (GSE) Inclusion GSE, HUD, the Veterans Administration, U.
The exception that ate the rule: why QRM should not equal QM
The most straightforward method of amendment might simply be to qualify section 365(c)(2) by adding an exception for contracts in which the creditor consents prepetition to assumability by the DIP after bankruptcy.
For example, if the creditor simply relies on the plain language of the Code, disallowing assumability, the creditor will be less concerned with its prepetition negotiations as it presumes its ability to renegotiate postpetition.
1990) (stating that "[t]he legislative history of [section 365(c)(2)] leaves no doubt that this exception to the assumability of executory contracts was drafted for the purpose of assuring that contracts to lend money or to extend credit .
The need for speed and common sense: rewriting s. 365(c)(2) to recognize the practice of prepetition agreements for s. 364 debtor-in-possession financing
It's my view that this effect is due in large part to the assumability of MMIF-insured mortgages.
This, of course, is due to the facts that 1) the assumability feature of MMIF-insured mortgages saves the prospective purchaser the closing costs of a new mortgage, and 2) an assumed loan will offer that purchaser smaller monthly payments in times when current market rates are higher.
Fine-tuning Price Waterhouse's model
Loan features such as assumability or convertibility could be added to the profile of desired attributes.
Partnerships bridged with technology
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