doddfrank act proposed changes: National Association of Mortgage Brokers ........... "Call To Action"
- 05/24/11 11:08 AM
The National Association of Mortgage Brokers (NAMB) has issued a "Call To Action"in an effort to keep one of the many proposals under the Dodd-Frank Act from being enacted. The provision of the Bill that the NAMB is putting out a "Call To Action" on, is the Qualified Residential Mortgage Rule (QRM). This provision of the Bill would require that a 20% Downpayment be made by new Borrowers applying for a Fannie Mae or Freddie Mac backed Mortgage. The Bill also contains a provision where by Lenders will have to retain a "5% Percent Risk Retention"in their portfolios on Mortgages that … (5 comments)
The National Association of Mortgage Brokers (NAMB) has issued a "Call To Action"in an effort to keep one of the many proposals under the Dodd-Frank Act from being enacted. The provision of the Bill that the NAMB is putting out a "Call To Action" on, is the Qualified Residential Mortgage Rule (QRM). This provision of the Bill would require that a 20% Downpayment be made by new Borrowers applying for a Fannie Mae or Freddie Mac backed Mortgage. The Bill also contains a provision where by Lenders will have to retain a "5% Percent Risk Retention"in their portfolios on Mortgages that … (5 comments)
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