The Law Dictionary

Your Free Online Legal Dictionary • Featuring Black’s Law Dictionary, 2nd Ed.

MORTGAGE SUITABILITY Definition & Legal Meaning

Definition & Citations:

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.

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