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The Dodd-Frank Act prohibits prepayment penalties on residential mortgages other than Qualified Mortgages. Prepayment penalties prohibited on Qualified Mortgages. Per TILA, if the effective rate

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The Dodd-Frank Act prohibits prepayment penalties on residential mortgages other than Qualified Mortgages. Prepayment penalties prohibited on Qualified Mortgages. Per TILA, if the effective rate changes by more than 1/8% for a fixed rate or 1/4% for an adjustable rate, how would that effect the closing date? 1/8% . 125 FIXED 1/4% .25 ARM

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