Six federal agencies issued notice on Tuesday that they will not modify their current definition of a Qualified Residential Mortgage.
Tag: Qualified Mortgage
MBA, Trade Groups Urge Federal Agencies to Continue Alignment of QM/QRM Frameworks
The Mortgage Bankers Association and a half-dozen industry trade groups asked federal regulatory agencies to hold implementation of new credit risk retention guidelines until the Consumer Financial Protection Bureau implements its updated Qualified Mortgage general definition.
CFPB Issues Final Mortgage Rules on General QM, Seasoned QM
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 on Aug. 18 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.
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.
MBA, Trade Groups Ask Agencies to Delay Credit Risk Retention Rule
The Mortgage Bankers Association and three dozen other industry groups sent a letter Friday to federal agencies, asking them to delay a review of the federal Credit Risk Retention final rule until the Consumer Financial Protection Bureau finalizes its Qualified Mortgage definition.
MBA Statement on CFPB Letter to Congress on QM Standard
On Jan. 17, Consumer Financial Protection Bureau Director Kathy Kraninger sent a letter to members of Congress, signaling proposed changes to the current Qualified Mortgage standard.
Breaking MBA Advocacy Update: CFPB Letter Signals Changes to QM Rule
On Friday, Consumer Financial Protection Bureau Director Kathy Kraninger sent a letter to Congress outlining the Bureau’s plan for a revised Qualified Mortgage Standard.
CoreLogic: With QM GSE ‘Patch’ Set to Expire, Impact Warrants Closer Investigation
In two blog posts last week, CoreLogic, Irvine, Calif., examined the relationship between loan pricing and loan performance in context of the coming expiration of the Consumer Financial Protection Bureau’s Qualified Mortgage “GSE Patch.” The blogs noted little distinction in loan delinquencies in certain rate spread categories, but noted closer investigation is warranted.