Federal financial regulators’ qualified residential mortgage (QRM) proposals for the home loan market have been attacked by housing, lending, and consumer groups since they were issued at the end of March, but the agencies’ proposals for the CMBS market have generated relatively little heat. Read what these proposals entail and how they are poised to affect the real estate industry going forward.
Shaun Donovan tells Kenneth Harney and ULI that the message to private developers, planning agencies, and local governments is straightforward, “If you want competitive money, we’ve set sustainability as a criterion for all of our funds,” he says. “And that’s really going to begin to change the game on a broad scale.” Read what other plans secretary of HUD Shaun Donovan has implemented and is about to announce.
Ken Harney writes that with Republicans now in control of the House, and a slimmed-down Democratic majority in the Senate, is President Obama’s bipartisan Commission on Fiscal Regulation and Reform’s plan as moribund as even some of its most ardent proponents assume?
