releases: https://www.isakson.senate.gov/public/index.cfm/news-releases?ContentRecord_id=390f7e4c-9eba-4fc6-9514-17e6b6e39901
Data license: MIT · Data source: dwillis/congress-press
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| https://www.isakson.senate.gov/public/index.cfm/news-releases?ContentRecord_id=390f7e4c-9eba-4fc6-9514-17e6b6e39901 | Isakson Applauds Revisions to Mortgage Rules | 2014-10-21 | 2014 | 2014-10 | Republican | House | GA | Johnny Isakson | I000055 | www.isakson.senate.gov | legacy | WASHINGTON – U.S. Senator Johnny Isakson, R-Ga., today released the following statement applauding the action by federal regulators in finalizing a rule that will require banks that sell loans to retain some risk on their books. The new rule also includes an important exception championed by Isakson to ensure that highly qualified homebuyers have access to affordable home loans. Isakson has repeatedly called on the administration to revise its earlier proposed rule that would have prevented responsible homebuyers from obtaining mortgages by requiring a 20 percent down payment for Qualified Residential Mortgages (QRMs). "I commend federal regulators on finalizing the Risk Retention rule and the important exception known as the QRM," said Isakson. "The QRM is a very important provision that recognizes the critical role of sound underwriting in mortgage finance. By focusing on disciplined underwriting and creating a level playing field for private mortgage issuers, they are setting the stage for a strong and stable housing market. Preserving low down payment loans as part of the revised rule will also allow the market to continue on its path to recovery. We have learned that it was poor underwriting—not low down payments—that led us into the housing crisis. "I worked to enact the QRM provision to ensure that highly qualified homebuyers have access to affordable home loans. I am pleased that the agreed upon standards strike the right balance and compromise, as they ensure that qualified borrowers have access to safe mortgages, while protecting the marketplace and significantly lowering delinquencies and defaults. The final rule announced today, will go a long way to bring certainty and to strengthen the U.S. housing market, and in turn, the broader U.S. economy." Isakson worked to include a provision in the Wall Street Reform and Consumer Protection Act to ensure that highly qualified homebuyers have access to affordable home loans. Isakson's provision exempted QRMs from a section in the law, known as "risk retention," that requires mortgage originators to retain at least a 5 percent interest in loan pools sold to investors. Six agencies have worked together on finalizing the rule: the Federal Deposit Insurance Corp., the Federal Reserve, the Office of the Comptroller of the Currency, the Securities and Exchange Commission, the Federal Housing Finance Agency, and the Department of Housing and Urban Development. ### | 1 | 2026-03-30T12:14:52Z | 2026-03-30T12:14:52Z |