Search Results for "qrm"

The six federal agencies tasked with coming up with a definition of a Qualified Residential Mortgage (QRM) have floated another proposal — one that would essentially do away with the QRM definition altogether. To understand what that means, we need a bit of background, which economist Bill McBride was happy to give, and which I […]

QM and QRM loans explained

One of the provisions of the Dodd-Frank Act creates two categories of mortgage loans that you have heard — and will hear — a lot about: QM and QRM. As a Realtor, you’ll need to know about them because your clients are going to ask, and because starting sometime next year most of your clients’ […]

No QRM rules in 2012

Housing Wire is reporting that Federal officials have confirmed that qualified residential mortgage standards and rules won’t be released/in place in 2012. Reminder: QM = qualified mortgages; all mortgages must meet these broad standards. QRM = qualified residential mortgages; a stricter standard a loan must meet if the lender wants it to be backed by […]

QRM definition still up in the air

What will the standards be for a qualified residential mortgage — a QRM? Those are the loans that Fannie and Freddie will be willing to back, so they’ll essentially be the best (aka least expensive) around. The original suggestion required that a QRM include a 20 percent down payment, or else the lender would have […]

QM vs. QRM — crucial differences

There are two types of mortgages covered in the Dodd-Frank Act, and both are going to impact Realtors in a big way. They meet very different requirements, and the American Securitization Forum wants to make sure that Federal regulators enforce that. You’ve got QMs (qualified mortgages) and QRMs (qualified residential mortgages). The standard for QMs […]

More lawmakers have signed a letter to Federal regulators requesting them to lower the 20% down payment on the qualified residential mortgage. This puts the number of lawmakers opposing the 20% rate at more than 320, according to NAR. Virginia lawmakers Bob Goodlatte and Rob Wittman join Gerry Connolly, Robert Hurt, James Moran, and Frank […]

Anti-QRM forces gathering steam

More media coverage on the QRm issue.

Can you imagine if 2010′s sales were 39% lower than they were?

30 seconds on QRM: What you need to know

If you don’t know about QRMs — or don’t know enough — you need to. They’re going to be a central part of the mortgage market. QRM: Qualifying residential mortgage. In other words, a mortgage that meets certain requirements. If it meets them, the U.S. government (through Fannie Mae and Freddie Mac) will be happy […]

Corelogic misleads a bit on QM loans

A slightly misleading CoreLogic report leads to some incorrect conclusions about QM loans