Fannie and Freddie have provided lenders with some flexibilities on construction-related loans. Also, they will pause acquisitions of refinances of mortgages with high loan-to-value ratios.
Data confirm that forbearance and income support during the pandemic reduced serious delinquency rates. Economists say deferrals and home price increases should help keep them down.
The pandemic makes sense, but it may not be the real reason why the CFPB has delayed the mandatory compliance date for the QM standards drafted during the final days of the Trump administration.
After pushback from large nonbank servicers, state examiners will revise pro-posed regulatory standards. Eight large servicers catch a break on stringency.
Though the CFPB wants to allow lenders to continue to use the patch for another 18 months, the PSPA requires Fannie and Freddie to cease buying patch loans as of July 1.
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