NAR called on regulators to revise the unnecessarily high down payment requirements of the Qualified Residential Mortgage (QRM) exemption from risk retention requirements under the Dodd - Frank Act. (nar.realtor)
«The QRM is likely to shape housing finance for the foreseeable future, and we believe that Congress intended to create a broad QRM exemption from the 5 percent risk retention requirement to include a wide variety of traditionally safe, well - underwritten products,» said Phipps. (nar.realtor)
The law's risk retention requirement mandates that mortgage securitizers must bear at least five percent of the credit risk of any assets securitized. (theregreview.org)