Sentences with phrase «qualified mortgage rules enacted»
One solution can be to qualify for the tougher 2014 Qualified Mortgage rules enacted by the federal government.
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Romney's goal for lenders to return to more normal lending standards is something NAR has been calling for quite a bit in the past year, and the paper cites as one of the roadblocks to this some of the rules to come out of the big Wall Street reform law enacted two years ago, including the qualified mortgage (QM) rule, which is being drafted by the new Consumer Financial Protection Bureau (CFPB).
Obama also echoed real estate industry concerns over the qualified mortgage (QM) and qualified residential mortgage (QRM) rules, which federal banking regulators have been working on since passage of the big Wall Street reform law that was enacted two years ago.
The rule is a part of the «qualified mortgage» concept in the Dodd - Frank banking reform law enacted in 2010 and it would require lenders to retain 5 percent of the loan value for loans they package into securities for sale to investors.
The Federal Deposit Insurance Corporation is the first of six financial regulators to release the final version of the long - awaited qualified residential mortgage (QRM) rule, which stems from the big 2010 banking reform bill the federal government enacted after the financial...