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Qualified Residential Mortgage and Risk Retention

After nearly three years of deliberations, regulators finalized the Qualified Residential Mortgage (QRM) rule in October, 2014. The final rule includes a broad definition of QRM and aligns it with the Qualified Mortgage standard implemented earlier in 2014. Previously proposed QRM rules imposed high down payment requirements.

October 31, 2014
After three years of strong opposition from NAR, congressional leaders, and consumer and industry groups, the six financial regulators released the final version of the long-awaited qualified residential mortgage (QRM) rule.
October 21, 2014
NAR applauds the Federal Deposit Insurance Corporation for finalizing the Qualified Residential Mortgage rule today.
October 21, 2014
The mortgage financing environment for households could improve as a result of QRM rules requiring no down payment, as NAR sought.
August 15, 2014
On Aug. 8, 2014, NAR President Steve Brown provided comments to the U.S. Department of Treasury in response to a request for Public Input on Development of Responsible Private Label Securities (PLS) Market.
February 28, 2014
On Feb. 26, 2014, NAR sent a letter to the House Financial Services Committee's Subcommittee on Capital Markets and Government Sponsored Enterprises for a hearing on the Dodd-Frank Act’s impact on asset-backed securities.

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Related Resources and Videos

Coalition for Sensible Housing Policy

Video: QRM: A Win for Consumers, But More Work Needed to Improve Credit Access

In the video above, NAR Research and Government Affairs analysts talk about the impact of the rule and what’s ahead.

QRM and Consumers