Thursday, October 16, 2014
Regulators to Finalize QRM Rule
The Federal Reserve will meet later this month to finalize a piece of the Dodd-Frank Act which would define what qualifies as a QRM and its associated risk requirements. The final rule will require lenders to retain some of the risk for loans they securitize in the secondary market. As reported by the American Banker, the Federal Reserve Board announced it will meet in open session on Oct. 22 to discuss the rule.