Three years after it was proposed, one of the major post-crisis mortgage regulations is on track to be finalized — but on terms much looser than originally envisioned.
Intended to force lenders to keep some of the risk of loans, including home loans, that are packaged into securities and sold to investors, the final rule isn’t likely to have a significant impact on the mortgage market, at least in the near term.
The regulation was “the single most important part” of the 2010 Dodd-Frank financial reform law, according to Barney Frank, the former Democratic chairman of the House Financial Services Committee for whom the law is named.
via Feds look to water down mortgage reform | WashingtonExaminer.com.