Qualified Mortgage, Qualified Residential Mortgage And Risk Retention
Posted by Krista Sabol on Feb 15, 2011 in Dodd Frank Act, Origination, Quality Control / Audit, Underwriting Under Title XIV of the Dodd Frank Act federal regulators must establish minimum underwriting standards for residential mortgage loans by 4/15/11 (excluding reverse mortgages and bridge loans of up to one year). This referred to as the Qualified Mortgage standard (QM). The requirements will define how a lender will support the consumer has a reasonable ability to repay the obligation. The QM...read more