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The Mortgage Bankers Association has significant doubts about the regulations meant to provide mortgage issuers rules for making safer loans.

At issue are the regulations proposed to oversee the underwriting of so-called qualified residential mortgages. Under the proposed rules, firms which issue securities backed entirely by QRMs would not have to reserve 5% of the loans’ value to ensure that they maintain a stake in the life of the security after they sell it. Securities which are backed by mortgages that do not meet QRM standards would have to keep that 5% stake thus, reformers hoped, helping to build a much stronger market for QRMs.

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