The FYI On The QRM: Lenders Worry, Wonder About Impact of New Mortgage Rules

September 2011
Credit Union Journal;9/5/2011, Vol. 15 Issue 34, p14
Trade Publication
The article reports on the concern of mortgage lenders on the potential impact of the proposed qualified residential mortgage (QRM) rule. It says that the QRM rule is part of the effort to address abuses in the mortgage process such as requiring lenders and securitizers to keep five percent of risk after securitization. David Motley of Credit Union (CU) Members Mortgage says that the QRM would protect the lenders from lawsuits, but restrictions would eliminate 70 percent of the population.


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