Credit Led News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Pat powell, founder and ceo of powell financial group. what are the changes? >> we now have new changes about qualified mortgages. qualified mortgages cannot exceed more than 3% of the value. when the borrower can't have their total debt payment exceed 40. of their income. they have to be 30 years or less. and the lender has to make sure that the borrower has a reasonable expectation of paying back this debt. >> right now, easy credit led to abusive lending, risky lending which led to the bubble in the housing market and mortgage meltdown which led to the great recession in 2007 add infinitum....

Several states now suspended driver's licenses for people with unpaid parking tickets. brian? >> all right, used to be that the american dream was all about ownership. owning your own car, owning your own home, whatever you wanted. home ownership is a thing of the past and we've become a nation of renters. daniel gross wrote the book called "better, stronger, faster" the myth of american decline and rise of a new economy. you join us right now. you don't think not owning is bad news. >> i think a lot of people it turns out bought houses that they couldn't afford. bad mortgages. if they didn't ...