Industry News
April 19, 2011
Qualified Mortgage Loans
Qualified Residential Mortgages are the subject of proposed joint rules developed by six different federal agencies as required under the Dodd-Frank Wall Street Reform and Consumer Protection Act. The rules basically address how much credit risk must be retained on loans that are securitized. The Dodd-Frank law exempts FHA and VA loans from the risk retention requirement and the proposed risk retention rules will not apply to Fannie Mae and Freddie Mac while they remain in conservatorship. ALTA will comment on the rules (PDF, 376 Pages) on behalf of the title industry.
