Details

  • Service: Advisory, Risk Consulting, Financial Risk Management
  • Date: 9/23/2013

September 3, 2013 The Washington Report 

Agencies Propose Revised Qualified Residential Mortgage Definition for Risk Retention Rules under the Dodd-Frank Act

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Six Federal agencies (the Office of the Comptroller of the Currency, Federal Reserve Board, Federal Deposit Insurance Corporation, Securities and Exchange Commission, Federal Housing Finance Agency, and Department of Housing and Urban Development - collectively, Agencies) released a joint proposed rule on August 28, 2013 that would revise those Agencies’ previously published proposed rule (April 2011) to implement the credit risk retention requirements of Section 941 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act).