«We're piling tighter standards on top of
already tight credit standards,» said Laurie Goodman of Amherst Securities Group LP.
Not exact matches
The pending rulemakings for the Qualified Mortgage (QM) and Qualified Residential Mortgage (QRM) rules mandated by the Dodd - Frank Act and the Federal Reserve's recently proposed Basel III international capital
standards have the potential to severely restrict
already tight credit and reduce mortgage provider choice over the next several years.
In other words, under a narrow QM definition, lenders would further restrict home mortgage
credit in what is
already a
tight lending environment because they would be fearful of the severe penalties that would be imposed if they failed to satisfy the ability - to - repay requirement under the more uncertain
standards that would apply in the non-QM market.