On April 20 NAR as part of a coalition of Industry and Financial organizations sent a l etter to CFPB Director Kraninger. The letter requests a delay in the QM rulemaking and an extension of the Temporary GSE QM category or “GSE Patch” in light of the ongoing COVID 19 national health emergency. The signatory organizations are working hard to implement Section 4022 of the “Coronavirus Aid, Relief, and Economic Security Act” (CARES Act) 4 and facilitate broad nationwide mortgage relief for homeowners with mortgages backed by Fannie Mae and Freddie Mac (the GSEs).
Coalition Letter to CFPB Regarding QM Rulemaking Delay and Extension of the Temporary GSE QM category
Issue Date: April 20, 2020
On April 20 NAR as part of a coalition of Industry and Financial organizations sent a l etter to CFPB Director Kraninger. The letter requests a delay in the QM rulemaking and an extension of the Temporary GSE QM category or “GSE Patch” in light of the ongoing COVID 19 national health emergency. The signatory organizations are working hard to implement Section 4022 of the “Coronavirus Aid, Relief, and Economic Security Act” (CARES Act) 4 and facilitate broad nationwide mortgage relief for homeowners with mortgages backed by Fannie Mae and Freddie Mac (the GSEs).
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