In comment letters to the Consumer Financial Protection Bureau, industry representatives have asked the bureau to consider lengthening the time in which it plans to sunset the GSE Patch.
The bureau has proposed that the GSE Patch would expire once it promulgated a new General QM definition, but industry experts said there could be overlapping problems with that approach.
Read on for reaction from Fannie Mae and Freddie Mac, the Mortgage Bankers Association and others.