The Mortgage Bankers Association has argued before Congress that the proposed definition of qualified residential mortgages will wind up forcing more borrowers into using government-backed loans.

QRMs will be mortgages for which banks and other mortgage-backed security issuers will not have retain part of their risk on their books. As part of the proposal for a definition of those mortgages, federal regulators have suggested significantly higher down payments for QRM loans.

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Tonya Knudesn

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