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Thursday, October 23, 2014

Fed, SEC Approve Risk Retention Rule


The Federal Reserve Board and the SEC voted to finalize the Dodd-Frank Act’s mortgage risk retention rule, aligning the qualified residential mortgage, or QRM, standard with the CFPB’s Qualified Mortgage rule. Other regulators finalized the joint rule on Tuesday.



The SEC voted 3-2, with both Republican commissioners opposing the final rule, while the Fed board voted unanimously.

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