Incenting borrowers to create reserves cuts mortgage defaults: Study

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  • Incenting borrowers to create reserves cuts mortgage defaults: Study
    Incenting borrowers to create reserves cuts mortgage defaults: Study
    Providing borrowers with an incentive to create financial reserves after closing is a better tool to prevent mortgage loan defaults than measures taken at underwriting, a JPMorgan Chase Institute study declared. During underwriting, lenders are required to examine the borrower’s ability to repay the mortgage along with considering their […]
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