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Three agencies approve final risk retention rule

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Mortgage Professional America | 21 Oct 2014, 11:44 AM Agree 0
The long-awaited finalization of the rule draws closer as half of the regulators in charge of writing it agreed on more relaxed mortgage lending standards today.
  • MIke | | 21 Oct 2014, 12:20 PM Agree 0
    How are small lenders going to comply with the 5% retention withour raising the rates to pay for it???? Big lenders too will raise the rates to pay for it...Am I wrong here??
  • Cheryl M | | 21 Oct 2014, 12:38 PM Agree 0
    I do not believe this rule applies to government mortgages. However, with that said forget about the "Big lenders or the small ones" this rule applies and helps only those who have big bucks and are mainly in the white male arena. So ask yourself "what about the rest of us...?" ...those American that aren't rich, white dudes. Dodd Frank forgot about everyone else when this rule was written. Go figure. The other problem is those at places like the FDIC don't realize they are actually now contributing to the next financial crisis. Isn't that what they're trying to avoid in the first place (AGAIN)? Squeezing out the little guy isn't going to help their cause; but putting us right back into that "financial crisis."
  • Rachel Norvell | | 21 Oct 2014, 12:43 PM Agree 0
    Cheryl and Mike,
    Interesting takes. Would love to talk to you about this in more detail. If you have a chance, please email me at Rachel.norvell(at)
  • Broker one | | 22 Oct 2014, 11:24 AM Agree 0
    QUALIFIED MORTGAGES (QM) are EXPEMPT from 5% retention. So small banks/lenders making Qualified mortgages ( which are the majority of mortgages being done today) should have no issues
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