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Qualified Residential Mortgage and Risk Retention

Qualified Residential Mortgage and Risk Retention

Proposed QRM rules may lead to high down payment requirements.

  • Since the beginning of the 111th Congress in early 2009, NAR has been working closely with the Members and staffs of the House Financial Services Committee and the Senate Banking Committee to ensure that Wall Street Reform legislation did not adversely affect Realtors.

  • Section 941 of the Dodd-Frank Act requires financial institutions that securitize mortgages loans to retain at least 5 percent of the credit risk. The act exempts from the risk-retention requirement securities backed exclusively by “qualified residential mortgages,” or QRMs—mortgages with underwriting and product features that historical loan performance data indicate result...

  • NAR's position on the provision in the Dodd-Frank Act requiring financial institutions to retain 5% of the risk on loans they securitize exempts certain qualified-residential mortgages from the requirement.

  • In a letter to Shaun Donovan, secretary of Housing and Urban Development; Timothy Geithner, secretary of the Treasury; and Gene Sperling, director of the National Economic Council, NAR offered its recommendations for helping stabilize and revitalize the housing industry and economy.

  • According to the 2011 National Housing Pulse Survey released today by the National Association of Realtors®, 72 percent of renters surveyed said owning a home is a top priority for their future, up from 63 percent in 2010.

  • The National Association of Realtors® is urging regulators to go back to the drawing board on the proposed Qualified Residential Mortgage rule.

  • 2011 NAR President Ron Phipps talks about once again battling government policies that prevent consumers from getting mortgages.

  • A proposed rule to define qualified residential mortgages (QRM) under the Dodd-Frank Wall Street Reform and Consumer Protection Act (the Dodd-Frank Act) would unnecessarily restrict access to home ownership. Realtors® at the Real Estate Services Forum – The Impact of Dodd-Frank on Real Estate session today during the Realtors® Midyear Legislative Meetings & Trade Expo gained...

  • 2011 NAR President Ron Phipps discusses new legislation in Congress aimed at putting a deadline on lenders responding to short sales.

  • High down payment requirements being proposed by federal regulatory agencies as part of the upcoming rulemaking under the Dodd-Frank Wall Street Reform and Consumer Protection Act will unnecessarily burden homebuyers and significantly impede the economic and housing recovery.