July 5, 2011
Docket Number OCC-2010-0002
Docket No. R-1411
FileNumber S7-14-11
RIN number 2590-AA43
A 20% down paymentis an appropriate level for a "qualified residential mortgage". Banks are free to issue loans with a lower percent downpayment as long as they hold onto a percentage of the loan. Seems pretty straightforward to me. If it took you 10 years to save the money to put down on a house, you're going to think long and hard about walking away.
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Kelly Seiler
Electrical Engineer
San Diego, CA