Part 1 talks about QM or Qualified Mortgage loans and now we are into QRM or QUALIFIED RESIDENTIAL MORTGAGE standards. The rules are stringent enough to protect consumers from unscrupulous lending practices while still creating new opportunities for private capital to re-establish itself as part of a robust and competitive mortgage market. NO 20-30% down payments that were going to take place in 2011. NAR or National Association of Realtors have pushed for lenders to make QM and QRM loans to qualified buyers with a lesser down payment. VA loans are often made with little or no down payment and small number of foreclosures. THESE GUIDELINES SHOULD PRODUCE SOLID LOANS!