CONGRESS PROPOSING 20% DOWN PAYMENTS FOR HOUSING LOANS



NO HOUSING, NO ECONOMIC RECOVERY



Tell Congress: 20% Down Payments Put the American Dream Out of Reach

Could your clients afford a 20% down payment? Could you? Can you envision what your prospective client pool will look like if new regulations governing Qualified Residential Mortgages (QRM) take effect this year?

Neither can we. And neither can many elected officials in Congress who did not intend for these regulatory provisions to be so narrowly defined. We must continue our
efforts to explain how detrimental the new QRM rules would
be to the ongoing housing and lending crisis in America.

Please contact Congress today and ask them to please make it clear to the regulators that this was not their legislative intent and to instead implement a more reasonable Qualified Residential Mortgage (QRM) that will keep credit-worthy buyers in the market and able to acquire a loan.

(Via NAR call to action)

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