CFPB Issues Final QM Mortgage, Seasoned QM Rules

The Consumer Financial Protection Bureau on Thursday issued final rules related to qualified mortgage loans. The Mortgage Bankers Association provided preliminary summaries of the final rules.

CFPB Proposes New Category of Qualified Mortgages

The Consumer Financial Protection Bureau yesterday issued a notice of proposed rulemaking to create a new category of seasoned qualified mortgages, called “Seasoned QMs,” to “encourage innovation and help ensure access to responsible, affordable in the mortgage credit market.”

MBA Asks CFPB to Extend GSE ‘Patch’ Sunset

The Mortgage Bankers Association, in a comment letter yesterday to the Consumer Financial Protection Bureau, asked the Bureau to extend the temporary GSE Qualified Mortgage loan definition, also known as the GSE “Patch,” for an additional six months following the effective date for the revised general QM parameters.

MBA Asks CFPB to Extend GSE ‘Patch’ Sunset

The Mortgage Bankers Association, in a comment letter yesterday to the Consumer Financial Protection Bureau, asked the Bureau to extend the temporary GSE Qualified Mortgage loan definition, also known as the GSE “Patch,” for an additional six months following the effective date for the revised general QM parameters.

MBA Asks CFPB to Extend GSE ‘Patch’ Sunset

The Mortgage Bankers Association, in a comment letter yesterday to the Consumer Financial Protection Bureau, asked the Bureau to extend the temporary GSE Qualified Mortgage loan definition, also known as the GSE “Patch,” for an additional six months following the effective date for the revised general QM parameters.

CFPB Issues Notices of Rulemaking to Address GSE ‘Patch’

The Consumer Financial Protection Bureau Monday issued two Notices of Proposed Rulemaking to address the impending expiration of the Government-Sponsored Enterprises Patch, also known as the GSE Patch, which affects nearly one million mortgage loans.