CFPB Finalizes GSE Patch Extension
By EsqSocial Corporation 21/10/20
The CFPB recently issued a final rule that amends the Regulation Z ability to repay/qualified mortgage rule by extending the sunset date for the qualified mortgage (QM) based on a loan meeting certain product requirements and being eligible for sale to Fannie Mae or Freddie Mac. The QM often is referred to as the “GSE Patch.” The final rule will be effective 60 days after publication in the Federal Register....
By: Ballard Spahr LLP