Regulators’ decision to remove a down payment requirement from the definition of a qualified residential mortgage — mortgages that banks will be able to sell without retaining risk — has eliminated the Dodd-Frank financial reform law’s primary means of guarding against a future housing meltdown, The Washington Post argues in an editorial.

The decision also reflects the “discouraging” degree of influence that the housing lobby wields over government officials, the newspaper said.

Source: The Washington Post

Show Comments Hide Comments

Comments

Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
Success!
Thank you for subscribing to Morning Headlines.
Back to top