The PSPA requires that we acquire loans that meet the revised General Qualified Mortgage (QM) loan definition in the CFPB’s rule1 that became effective Mar. 1, 2021 (Revised QM Rule). As a result, and in accordance with the dates below, we will no longer acquire loans that are GSE Patch loans that do not meet the Revised QM Rule. To be eligible for purchase, such loans must:
▪ have application dates on or before Jun. 30, 2021, and
▪ be purchased as whole loans on or before Aug. 31, 2021, or in MBS pools with an issue date on or before Aug. 1, 2021.