Our Purpose and Mission
Welcome to QualifiedResidentialMortgage.org. This website is provided as a public service to borrowers, journalists, and mortgage industry professionals. Our mission is to educate consumers and lenders alike about the forthcoming rules and regulations collectively referred to as the Qualified Residential Mortgage, or QRM.
We also provide a wealth of information (articles, tutorials) on the broader subject or home loans and home buying. Check out our blog for the latest tips and tutorials.
Standardizing the Definition of QRM and QM
The qualified residential mortgage (QRM) and the similarly named qualified mortgage (QM) are two interrelated mortgage-lending rules that stem from the Dodd-Frank Wall Street Reform and Consumer Protection Act. They are also the source of much confusion among mortgage lenders and consumers alike.
This confusion is the result of several factors:
- Misinformation propagated by well-meaning but ill-informed publishers
- Speculation and opinions that are mistaken for fact
- The lack of any clear definitions or guidelines from federal agencies
These three factors combined have created a cloud of uncertainty in the lending world. They have also left consumers scratching their heads. We keep hearing about these two rules, but nobody really knows what they mean. They are proposals without definitions.
Our goal is to reduce the misinformation and confusion surrounding these rules, as much as possible. We will do this by providing a standardized definition for QM and QRM.
We are independent publishers and consumer advocates, dedicated to the singular mission of educating the public.
Meet the Publisher
Brandon Cornett is a real estate writer and publisher. His articles and commentary can be found on thousands of websites. He is the founder of the Home Buying Institute. Brandon has been researching and writing about real estate topics for nearly a decade.
Do you have questions for the publisher of this website? Contact us here