Items Tagged with 'qualified residential mortgage'


  • MBA calls on regulators to align QRM with QM

    Borrowers, investors deserve competitive mortgage market: MBA CEO
    MBA believes aligning QRM and QM definitions will allow a greater number of borrowers to benefit from lower mortgage costs, resulting from greater access to the private investor market, leading to safer and more sustainable loans.
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  • QRM proposal caters to private sector

    No downpayment requirement spells private capital comeback
    The expected alignment of the QRM rules with QM standards will likely reduce uncertainty for players in the residential mortgage-backed securities sector and should also support stronger participation in jumbo loan activity by banking institutions.
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  • QRM revisions strike the right balance

    Mortgage industry remains cautious on 30% downpayment option
    "The hope has always been that these new mortgage regulations would give banks more clarity and certainty about which mortgages are riskier, giving them the incentive to write more lower risk mortgages," Trulia chief economist Jed Kolko said.
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  • NAMB Issues Call to Action on QRM

    The National Association of Mortgage Professionals (NAMB) has issued a call to action to members regarding the Qualified Residential Mortgage (QRM) standard proposed rule currently in the public comment period.   In order to qualify as a QRM under the proposed rules, requirements include having a minimum of 20% down payment, cannot be 30 days late on any debt obligation, and have debt to income ratios below 28/36.  NAMB government affairs chairman Mike Anderson warns that if the rule proceeds as written, it could result in non-QRM mortgage interest rates increasing by at least 2%.  In the sample letter
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  • QRM Requirements Could Stifle Recovery

    According to data from CoreLogic, about 39% of borrowers who purchased a home in 2010 were completed with a down payment less than the 20% down payment that would be required by the proposed Qualified Residential Mortgage (QRM) risk retention rule.   Reported by HousingWire, the data suggests that the 20% down payment requirement will lead to more sluggish sales in the short-term. The proposed rule would require lenders to maintain 5% of the credit risk on loan they produce that do not meet the QRM standard.  That would suggest that home loans that do not qualify as a
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