The Consumer Financial Protection Bureau’s (CFPB) announced it will provide a temporary “QM patch” extension.
The CFPB issued two Notices of Proposed Rulemaking to address the impending expiration of the Ability-To-Repay/Qualified Mortgage (ATR/QM) rule. The rule created the patch as a temporary QM definition that also provides QM status to certain mortgage loans eligible for purchase or guarantee by Fannie Mae or Freddie Mac.
Read on for more from the CFPB and National Association of Realtors.
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