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When does the requirement that a first-time home loan borrower of a subprime mortgage loan with a variable or adjustable interest rate receive counseling go into effect?

April 26, 2017Adjustable borrower first-time home loan Interest rate mortgage loan requirement subprime

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When does the requirement that a first-time home loan borrower of a subprime mortgage loan with a variable or adjustable interest rate receive counseling go into effect?

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A. The requirement that a first-time home loan borrower of a subprime mortgage loan with a variable or adjustable interest rate receive counseling went into effect on January 31, 2008.