The CFPB released its much-anticipated final QM rules replacing the so-called GSE Patch and providing QM status for “certain” seasoned loans. Both final rules reflected important provisions advocated by MBA throughout the comment process.
Mortgage Bankers Association President and CEO Bob Broeksmit, CMB, released the following statement regarding the final General QM and Seasoned QM Rules:
Commercial real estate chief financial officers have had to move quickly to respond to the pandemic and position their firms for whatever might come next.
Over the past three months, the pace of job gains has slowed from the rapid recovery seen over the summer. Similarly, the unemployment rate continues to decline, but at a more gradual pace.
So much news, so little time and space. The end of the year seems to bring out the volume in housing market reports, so here are a couple paragraphs each on some of the latest reports to come across our desks: