Tag: Ability to Repay

Fannie Mae Selling Guide Announcement LL-2021-09 and Freddie Mac Bulletin 2021-13 – Both Dated April 8, 2021

Written by: Lloyd Rutherford, Staff Writer We haven’t seen a change like this in years.  This article is a must read for any mortgage lender. Rule Synopsis: Big changes coming for both Fannie and Freddie regarding the GSE Patch we have been working with since 2014, which allowed the agencies to purchase loans from their […]

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CFBP Issues Final Rule Extending GSE Patch – Dated October 20, 2020

Written by: Lloyd Rutherford, Staff Writer There is a lot of market speculation as to what is going to happen to the QM [Qualified Mortgage] patch that was set to expire next year.  Read this update to get the details about how the CFPB is handling this issue with the industry. Rule Synopsis: On October […]

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CFPB-Consumer Financial Protection Bureau – Federal Register Final Rule and Official Interpretations – Dated August 30, 2017 (ATR/QM) and November 9, 2017(HPML Exemption)

By:  Lloyd Rutherford-Staff Writer With the QM [Qualified Mortgage] and ATR [Ability to Repay] rules came thresholds that cannot be exceeded without becoming a high-cost mortgage.  This update is the yearly threshold adjustment. Rule Synopsis: The CFPB is required to calculate annually the dollar amounts for various topics contained in Regulation Z (aka The Federal […]

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