What are QRMS? Qualifying Residential Mortgages--And They're Bad For The Real Estate IndustryIf you haven't read about the new QRM requirements being proposed by congress, I wrote a piece about it today on the Seattle P-I. Basically, lenders will need to lend under large downpayment, low-risk guidelines set by the feds, or they'll have to maintain large assets to satisfy the risk-reserve requirements set for them.Seattle P-I QRMsThis well-intentioned plan is going to do more damage to small businesses and the real estate market than it could possibly help in terms of reducing risk. I'm not opposed to requiring a substantial down payment on home purchases, but this plan will only force small lenders out of business and raise overall costs and barriers for banks and borrowers. May 25 2011 - Downtown00YesReport a ProblemProblemSelect oneOffensive contentIrrelevant contentSpam (pure self-promotion)OtherDetailsYour emailPlease enter a valid email address.Submit CancelContent flaggedWe will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.We're sorry. This service is temporarily unavailable. Please come back later and try again.