The U.S. must tighten mortgage-lending rules to make the industry less risky – a new rule under the Dodd-Frank Wall Street Reform and Consumer Protection Act. If a mortgage follows QRM rules, which have not yet been defined, lenders can sell the mortgage because it will be considered relatively low risk. Lenders can still issue mortgages that don’t adhere to QRM standards, but the law forces them to retain some ownership and part of the risk. As a result, most lenders will follow QRM rules once established.
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