More News
- Page Two
- News Links
Anarchives
Radio/TV
- Declare Your Independence with Ernest Hancock
Letters To Editor
- List of Letters
- Write a Letter
Join Us
Marketplace
- Buy Stuff - Sell Stuff
- Store on CafePress.com
Special Editions
RSS Feeds
About Us
Log-In

Make a Comment • Email Link • Send Letter to Editor

IPFS News Link • Housing

Housing trouble ahead from the QRM provision in Dodd-Frank?

06-29-2011 • The Hallmark Abstract Sentinel

The best intentions of Washington can often result in negative, albeit unintended, consequences. A perfect case in point is the QRM provision in Dodd-Frank! The proposed Dodd-Frank Wall Street Reform and Consumer Protection Act includes a provision that goes by the acronym QRM, or Qualified Residential Mortgage. I recently attended a meeting of the Empire State Mortgage Bankers Association (ESMBA) at which this piece of legislation was debated for quite some time. The major focus of the attendees centered on the proposed requirements that lenders who sell their loans rather than portfolio their loans, set aside an amount equal to 5% of the loan as risk retention.

Read Full Story

Reported By Michael Haltman

Make a Comment • Email Link • Send Letter to Editor