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 Raise Concerns over TRID Brokered Transactions

The Mortgage Bankers Association, in a letter last week to the Consumer Financial Protection Bureau, said as the Bureau assesses the effectiveness of its TRID Integrated Disclosure Rule it should reconsider provisions of the rule regarding wholesale creditors and brokered transactions.

CFPB to Assess Integrated Mortgage Disclosure Rule

The Consumer Financial Protection Bureau said it would conduct and assessment on the TRID Integrated Disclosure Rule under the Truth in Lending Act and the Real Estate Settlement Procedures Act.