Home Purchases

QRM Requirements Could Stifle Recovery 

According to data from CoreLogic, about 39% of borrowers who purchased a home in 2010 were completed with a down payment less than the 20% down payment that would be required by the proposed Qualified Residential Mortgage (QRM) risk retention rule.   Reported by HousingWire, the data suggests that the 20% down payment requirement will lead to more sluggish sales in the short-term. The proposed rule would require lenders to maintain 5% of the credit risk on loan they produce that do not meet the QRM standard.  That would suggest that home loans that do not qualify as a