Fannie Mae issued a letter notifying its lenders that the Treasury and the Federal Housing Finance Agency have imposed additional criteria through amendments made to the Preferred Stock Purchase Agreement (PSPA) to loans acquired by the Enterprise.
“The PSPA requires that we acquire loans that meet the revised General Qualified Mortgage (QM) loan definition in the [Consumer Financial Protection Bureau’s] rule that became effective March 1, 2021,” the letter stated.
Read on for more details.