Mortgage

Lawmakers push for QRM with flexible downpayment requirements

Housing industry leaders and congressional lawmakers are ramping up their push for regulators to resolve a residential mortgage rule without placing strict down payment requirements on borrowers.

Bankers, real estate agents, home builders and lawmakers got a renewed jolt after President Obama’s State of the Union address to press their point that new rules determining a borrower’s ability to repay a loan will be the central consideration for obtaining a mortgage.

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

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