The debate over what counts as a "Qualified Residential Mortgage (QRM)" may be coming to an end in the near future. The Federal Deposit Insurance Corporation (FDIC) has scheduled a meeting of its Board of Directors for next Tuesday to vote on the issue. A draft of the proposed rule will be made available to the public at that time.
QRMs are home loans that will be exempt from the requirement that mortgage lenders retain a 5 percent share of each loan they originate that is packaged for securitization - keeping so-called "skin in the game." Dodd-Frank specifically identified loans guaranteed or originated by FHA, VA, and USDA as qualified for exemption but left other products, including loans written by Fannie and Freddie, up to federal regulators to determine.
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Source: http://www.mortgagenewsdaily.com/03232011_risk_retention_qrm.asp
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