“Do Enough Realtors Understand what QM Means?”

For the last month every time I had a discussion about anything with a Realtor I would ask, “What do you think about QM (Qualified Mortgage)?”

It seems like half the time, they had no idea what I was asking. They really had no reason to be concerned, as you don’t know what you don’t know. Then there were those that are aware and shared my concern for how it will affect all of us in the mortgage and real estate industries.

When I spent time explaining to those that didn’t really understand, there were moments of silence or how could “they” do that?

It is amazing to me how many prospective buyers as about QM. That continues to tell me that the public is much more educated as to what is going on when it comes to mortgages. Folks are asking me how QM will affect their ability to obtain a mortgage.