Bank Regulators Waiting On CFPB Qualified Mortgage Rule

Law360, New York (June 6, 2012, 4:09 PM EDT) -- Banking regulators on Wednesday said they would delay finalizing a rule exempting high-quality mortgages from mortgage-backed security risk retention rules until the Consumer Financial Protection Bureau wraps up a delayed rule defining which mortgages would qualify as high quality.

At a hearing of the Senate Banking Committee, the heads of the Federal Deposit Insurance Corp., the Office of the Comptroller of the Currency and the Federal Reserve System's regulatory reform point man said they would hold off on their qualified residential mortgage exemption rule until after...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.