Do You Sell Loans to Fannie Mae/Freddie Mac? If so, you need to be aware that July 1st is on the horizon. You may recall that the CFPB delayed the mandatory compliance date for the “new” general Qualified Mortgage (QM) definition, as well as the temporary QM, until October 1, 2022.
These extensions did not change the fact; however, that Fannie and Freddie will only purchase loans that meet the “new” general QM definition, effective for applications received on or after July 1, 2021.
Jerod discussed this in detail during our last Monthly Connection.
Learn more about these changes with the following webinars available now OnDemand:
The New General QM (Flash Webinar)
Published
2021/06/28