The Consumer Financial Protection Bureau (CFPB) announced that it plans to change the qualified mortgage loan definition, but as it goes through that process, the current GSE Patch will remain in place.
The bureau said the move will ensure that “responsible, affordable mortgage credit remains available to consumers” who could be affected by the patch’s expiration.
Read on for details about the proposals, along with the new standards the CFPB wants to bring to qualified mortgages.