As questions loom as to what the secondary mortgage market will look like in two years, Consumer Financial Protection Bureau Director Kathy Kraninger decided the bureau should extend its temporary measure allowing for certain exceptions to its Qualified Mortgage standard, also known as the “GSE patch.”
The letter also indicates that the CFPB plans to propose an amendment to the current rule to replace debt-to-income ratios with a new measure of credit risk.
Find out more about the proposed changes.