Realtors® Respond to CFPB Qualified Mortgage Patch Announcement

Realtors® Respond to CFPB Qualified Mortgage Patch Announcement

(STL.News) – National Association of Realtors® President John Smaby issued the following statement after the CFPB yesterday announced its intent to allow the GSE Patch to expire in January 2021 while releasing its corresponding Advanced Notice of Proposed Rulemaking.

“On Thursday, members of NAR’s policy staff, Joe Ventrone and Ken Fears, were briefed by Consumer Financial Protection Bureau Director Kathy Kraninger on the agency’s review of the Qualified Mortgage Patch. During the meeting, NAR expressed its appreciation for the Bureau’s work to proactively address the QM-patch issue, which will expire on January 10, 2021.

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