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Monday, December 3, 2012

Business Roundtable: Narrow QRM Rule Threatens Economic Recovery

The Business Roundtable sent a letter to federal regulators regarding the risk retention requirements of the Dodd-Frank Act as well as the qualified residential mortgages proposed rule.

From the letter:
The proposed risk retention rule—particularly when combined with other reforms and mandates—could substantially impact both credit availability and overall lending capacity in the private mortgage market. An unnecessarily narrow QRM definition that does not adequately cover a sufficiently large percentage of loan products and underwriting standards could threaten the nation’s economic recovery by making financing more expensive or unavailable.
Read the full letter.

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