More lawmakers join major push to reduce QRM down payment

More lawmakers in the House of Representatives signed a second letter Friday requesting federal regulators to lower the 20% down payment on the qualified residential mortgage.

More than 150 lawmakers signed the original letter sent to regulators in May. However, when regulators delayed the comment period to Aug. 1. days before it was to end, organizers had another chance to push for a reduction. Rep. John Campbell (R-Calif.) and Brad Sherman (D-Calif.) circulated another letter to colleagues on June 13 asking for more signatures by June 16.

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