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Regulators May Relax 'Risk Retention' Mortgage Securitization Rule

inman.comJuly 25, 2013

By John Maxfield

The Federal Reserve and Federal Deposit Insurance Corp. may loosen a proposal to require that banks retain a 5 percent stake in mortgage-backed securities they sell to investors, the Wall Street Journal reports.

An earlier proposal issued by regulators in April 2011 to implement the Dodd-Frank Consumer Protection Act would have exempted mortgage-backed securities containing “qualified residential mortgage” (QRM) loans in which borrowers made down payments of at least 20 percent from the “skin-in-the-game” requirement.

Lenders and consumer groups argued that a 20 percent down payment QRM requirement would restrict lending without doing much to protect the financial system. Regulators put that proposal on hold in May 2012.

Now the Fed, FDIC and four other regulatory agencies are looking at ditching the down payment requirement, while still requiring that lenders retain a 5 percent interest in mortgages that allow borrowers to make “interest-only” payments, or don’t fully document a borrower’s ability to repay, the Journal reported. Source: finance.yahoo.com.


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CFLA was founded by the Nation's Leading Foreclosure Defense Attorneys back in 2007 to serve the Foreclosure Defense Industry and fight pervasive Bank Fraud. Since opening our virtual doors, CFLA has rapidly expanded to become the premier online legal destination for small businesses and consumers. But as the company continues to grow, we're careful to hold true to our original vision. For us, putting the law within reach of millions of people is more than just a novel idea—it's the founding principle, just ask Andrew P. Lehman, J.D.. With convenient locations in Houston and Los Angeles, you can contact Our National Account Specialist and General Manager / Member Damion W. Emholtz at 888-758-2352 for a free Mortgage Fraud Analysis or to obtain samples of work product, including cutting edge Bloomberg Securitization Audits, Litigation Support, Quiet Title Packages, and for more information about our Nationally Accredited and U.S. Department of Education Approved "Mortgage Securitization Analyst Training Certification" Classes (3 days) 24 hours for approved CLE & MCLE Credit (Now Available Online).

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