Proposed “Qualified Residential Mortgage” Rule Would Stunt the Housing Market and Shut Out Qualified Home Buyers

WASHINGTON, D.C. – June 2, 2011 – (RealEstateRama) — Kenneth W. Edwards, Policy Counsel for the Center for Responsible Lending, presented the following remarks at a press briefing held to discuss the impact of the proposed Qualified Residential Mortgage (QRM) rule on consumers. Other groups participating in the conference were the Mortgage Bankers Association, Consumer Federation of America, the National Community Reinvestment Coalition, and the National Housing Conference