The Federal Deposit Insurance Corp. (FDIC) said it will not be looking at risk retention and qualified residential mortgage (QRM) provisions as part of its agenda for its March 15 board meeting.
It was expected that the FDIC would release its full proposal on risk retention at the March 15 board meeting.
According to market reports, the regulator is moving toward defining only well-underwritten mortgages with 20% down payments as QRMs. These loans would be exempt from the 5% risk retention provision under the Dodd-Frank Act.
The agenda of the meeting includes an item of discussion on a Notice of Proposed Rulemaking (NPR) regarding the priority and claims process under the Orderly Liquidation Authority provisions of Title II of the Dodd-Frank.
The FDIC stated in a release that the agenda of the meeting "does not address the joint release of an NPR regarding the risk retention provisions and Qualified Residential Mortgage exception of Section 941 of the Dodd-Frank Act."
There had been multiple reports out of Washington that the FDIC and the Securities and Exchange Commission were planning to propose risk retention rules on March 15, but apparently those rules will not come out any sooner than mid-April, according to market reports.
