MORTGAGE SUITABILITY
\mˈɔːɡɪd͡ʒ sˌuːtəbˈɪlɪti], \mˈɔːɡɪdʒ sˌuːtəbˈɪlɪti], \m_ˈɔː_ɡ_ɪ_dʒ s_ˌuː_t_ə_b_ˈɪ_l_ɪ_t_i]\
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Lender accountability in advising consumers on a mortgage loan. Holds lenders accountable for steering a customer to unsuitable mortgage types. Lenders are very opposed to any standard. They state that it is impossible to know everything possible about a consumer prior to issuing a loan. There is no federal suitability in existences at this time.
By Henry Campbell Black
