GSE Reform, CFPB Underwriting Rule are on Collision Course
American Banker, Feb. 4, 2019–Kate Berry (subscription)
The White House and Senate Banking Committee are pursuing parallel tracks to end the GSEs’ federal conservatorships. Any resulting plan must deal with whether GSE-backed mortgages are still exempt from the Consumer Financial Protection Bureau’s Qualified Mortgage rule. “Not doing something to extend the patch would be highly disruptive,” said Bob Broeksmit, the president and CEO of the Mortgage Bankers Association.
