New mortgage rule changes lender requirements

Lenders share stake in risky mortgages

According to Bloomberg, a new qualified residential mortgage rule is in the works to address concerns raised about the first draft of the regulation. QRM will require lenders to put more skin in the game when it comes to the risky mortgages that they securitize.

Bloomberg has more on the second draft, which is reportedly in the works:

The 500-page draft regulation written by a panel of six agencies will replace a more stringent proposal for the Qualified Residential Mortgage rule, said the people, who asked not to be identified because the plan isn’t public. The first version drew protests from housing industry participants and consumer groups when it was released in 2011.

Most Popular Articles

3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please