Buchalter COVID-19 Client Alert: CFPB Issues Rule Extending the “GSE Patch”
By EsqSocial Corporation 21/10/20
On October 20, the Consumer Financial Protection Bureau (CFPB) issued a final rule extending the Government Sponsored Enterprise “GSE Patch”, which was set to expire on January 10, 2021. The GSE Patch is now extended until the earlier of (1) the mandatory compliance date of a final rule amending the General Qualified Mortgage (QM) loan definition in Regulation Z (QM underwriting rule), which the CFPB is expected to issue soon; or (2) a GSE leaving federal conservatorship....
By: Buchalter