QRM: Clarity in housing finance
It took nearly three years, but the Qualified Residential Mortgage (QRM) rule has been finalized by the Federal Deposit Corporation, which should translate into a win-win for homeowners who are relocating.
The new rule includes a broad definition of QRM and aligns with the Qualified Mortgage (QM) standard implemented earlier in 2014. The biggest sticking point in the passage of the QRM was the high down-payment requirements that previously proposed QRM rules imposed. Read More