KUSA - January 2014 marks another round of bank legislation that will come into effect for consumers, this time around real estate based lending.
There will be more rules for banks to ensure that homeowners can repay loans.
For example, debt-to-income ratio on mortgage loan applications will be set at 43 percent for loans, or else they will be considered high cost loans.
Today, banks have a bit more flexibility on DTI.
This is just one of the changes that could affect consumers looking for loans.
9NEWS Business Reporter Gregg Moss talked to Bruce Alexander about the changes in mortgages in 2014.
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