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Home » Pressure Grows on Federal Regulators To Ease Up on Tough QRM Standard
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Pressure Grows on Federal Regulators To Ease Up on Tough QRM Standard

June 2, 2011
Federal regulators are hearing it from all corners as industry groups are joining step with consumer advocates and lawmakers on Capitol Hill urging the agencies to write a less restrictive definition of qualified residential mortgages. A letter from a bipartisan group of U.S. senators said the proposed risk-retention rule drafted by federal regulators earlier this year goes beyond the intent of Congress in prescribing a narrow defini-tion of QRM loans which could be securitized without forcing the issuer to retain a 5 percent interest in the transaction. “These restrictions unduly narrow...
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