Only 31% of loans originated by Fannie Mae and Freddie Mac in 2009 would be considered qualified residential mortgages (QRMs), according to Patrick Lawler, chief economist of the Federal Housing Finance Agency. Under new rules, originators would be required to retain 5% of any loan that is not considered a qualified residential mortgage, which means the lenders would need to retain 5% of more than two-thirds of the loans they originate. The FHFA oversees the government-sponsored enterprises.
