Lenders and consumer groups oppose risk-retention proposals

06/1/2011 | AmericanBanker.com (free registration)

In a rare alliance, mortgage lenders and consumer advocacy groups have joined in opposition to a regulatory proposal on risk-retention requirements. The Dodd-Frank Act requires mortgage lenders to retain 5% of the loans they securitize. New qualified residential mortgages would not have to comply with the proposed rules. Many lawmakers, bankers and housing advocates argue that the proposed criteria for QRM are too narrow.

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