The Federal Government is proposing a required 20% down payment on all home mortgages.  This would make home ownership more expensive for responsible consumers and puts the fragile housing recovery in jeopardy. 

Congress passed a law intended to prevent future banking collapses.  Federal regulators have taken that law and created a new rule called Qualified Residential Mortgage (QRM)  This new rule proposes a minimum 20% down payment on a home purchase for the most affordable rates.  This would create a high down payment for first-time and low-income home buyers.  The QRM would also make refinancing much more expensive for credit-worthy homeowners too.

The National Association of Realtors (NAR) and 44 organizations have banded together to create the Coalition for Sensible Housing Policy to draw attention to the proposed regulation's 20% down p ayment requirement.  NAR and its coalition of partners are asking consumers