7/5/2023 0 Comments Freddie mac glassdoorPursuant to the amendments, with regard to the original 43% DTI ratio QM loan, the new general QM loan based on an APR limit, and the GSE Patch QM loan, as of JFannie Mae and Freddie Mac could only purchase new general QM loans. ![]() In January 2021 the Preferred Stock Purchase Agreements (PSPAs) regarding Fannie Mae and Freddie Mac were amended. If the mandatory compliance date of the new general QM rule is extended to October 1, 2022, all three QMs loans could be originated for applications received before that date. Of the three types of QM loans, only the new general QM loan would be available for applications received on or after that date. Comments on the proposal were due by April 5, 2021.Ĭurrently, for applications received before July 1, 2021, lenders may originate loans using the original 43% debt-to-income (DTI) ratio QM loan, the new general QM loan based on an APR limit, and the temporary QM loan based on a loan being eligible for sale to Fannie Mae or Freddie Mac, which is commonly referred to as the “GSE Patch”. As previously reported, the CFPB proposed to delay the mandatory compliance date for the new general qualified mortgage (QM) rule that amends the Regulation Z ability to repay/QM rule from Jto October 1, 2022.
0 Comments
Leave a Reply. |