Regulators approve final QRM rule
Federal regulators Tuesday approved a final qualified residential mortgage (QRM) rule, which requires investment banks to hold at least 5% of a loan's risk on their books when securitizing loans unless the loans meet the definition of a QRM.
Watt announces changes to Representation and Warranty Framework
Mortgage lenders soon will be provided with more certainty about requirements for covering losses on loans sold to Fannie Mae and Freddie Mac, according to Federal Housing Finance Agency Director Mel Watt. Speaking at a Mortgage Bankers Association convention in Las Vegas Tuesday, Watt outlined upcoming revisions and clarifications to the agency's Representation and Warranty Framework.