QRM (Qualified Residential Mortgage) and its impact on the market

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irvinerealtor

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Using this as a placeholder... would appreciate helpful updates from any of our lending professionals here.

Thanks in advance for any insight you can provide.

-IrvineRealtor
 
From what I know...QRM is going to be the standard for all loans because part of the carrot is that lenders/servicer are immuned to future origination lawsuit/litigation.  In return, you get a lot more scrutiny during underwriting but that is already happening.
 
It's going to be at least until October before we get a solid idea of what a QRM mortgage environment will look like for loans closing in 2014. For example, there is very, very little information to go on about how HELOC's might be viewed in a QRM transaction. Broker compensation versus Correspondent lending has yet to be worked out clearly which impacts pricing, which then cascades down to QRM standards and practices.

It's smart to have a placeholder on the subject, but don't expect many updates of substance to come until Q3.




 
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