Tag: QM

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- Truth in Lending (Reg Z) – Annual Threshold Adjustments for HOEPA and Qualified Mortgages

Written By: Tammy Butler, Master CMB Annual Thresholds for Qualified Mortgages have been issued by the CFPB. Rule Synopsis: The Bureau is required to calculate annually the dollar amounts for several provisions in Regulation Z; this final rule reviews the dollar amounts for provisions implementing TILA and amendments to TILA, including the Home Ownership and […]

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Universal – Loan Quality Types: With the expansion of loan products, what are the differences between Non-QM and Sub-Prime loans?

Answer: There is a lot of discussion on Non-QM business as lenders have compressed margins and they are looking for loans that allow them to deviate slightly from secondary marketing constrictions and not concern themselves with the points and fees test.  Of course, doing non-QM means that there is more risk and more risk equals […]

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CFPB – Truth in Lending Annual Threshold Adjustments – Entered in Federal Register August 27, 2018 – Effective January 1, 2019

Written By: Tammy Butler, Master CMB Each year, the CFPB is mandated to adjust tolerance thresholds under HOEPA and QM.  Be sure to read this article to understand what is changing and when it goes into effect. Rule Synopsis: The Bureau is required to calculate annually the dollar amounts for several provisions in Regulation Z; […]

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