Proposed QRM rules may lead to high down payment requirements.
On Oct. 30, real estate and finance industry groups, including NAR, sent a joint trade letter the agencies responsible for the QRM rules (the Federal Reserve, FDIC, HUD, SEC, Department of the Treasury, and the FHFA) regarding commercial real estate elements of the re-proposed rule on credit risk retention ("the Re-proposal").
QRM: Regulators Agree with NAR But Deal Not Done
Federal banking regulators have re-proposed the qualified residential mortgage (QRM) rule
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Down Payments Still an Issue in QRM Plan
Federal Agencies have signaled that the issue of downpayments is still on the table after the QRM rule was re-proposed, leaving out a controversial 20 percent minimum down payment requirement.