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CoreLogic Estimates the Loan Volume Enabled by GSE Patch

Friday, July 19, 2019

The so-called GSE Patch for the Consumer Financial Protection Bureau's (CFPB) 2013 Ability-to-Repay (ATR) and Qualified Mortgage (QM) rule (Rule) is scheduled to expire in January 2021 (earlier if the government sponsored enterprises (GSEs) are released from conservatorship.)  The Patch created a temporary category under the ATR and QM rule under which loans eligible for purchase or guarantee by the GSEs can qualify as QM loans. The ATR and QM rules require lenders to make a reasonable, good-faith determination of a consumer's ability to repay a mortgage loan based on verified borrower financial information.  These include consumer protection features generally associated with responsible mortgage lending practices.  

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