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Housing-to-income ratio is the percentage of your monthly income that is spent on monthly housing payments.
The Bureau notes that Dodd-Frank Act section 1036(a) separately provides that it shall be unlawful for “any person to knowingly or recklessly provide substantial assistance to a covered person or service provider in violation of the provisions of section 1031, or any rule or order issued thereunder, and notwithstanding any provision of this title, the provider of such substantial assistance shall be deemed to be in violation of that section to the same extent as the person to whom such assistance is provided.
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Ron Calderon, D-Montebello, also is a member of the banking committee and voted against Jackson's Correa said he does not consider himself an ally to the industry and that he never votes based on the preferences of donors.
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Of that amount 10% ($1,550) would go toward paying the penalty and 25% ($3,875) would go toward taxes, which totals $5.