News & Analysis as of

FNMA Survey Indicates QM Rules Lead to Increased Lender Costs

FannieMae has released a survey that indicates the CFPB’s Ability-to-Repay (“ATR”) and Qualified Mortgage (“QM”) rules will lead to increased lender costs. Specifically, most firms (74%) reported that they expect their...more

Freddie Mac And Fannie Mae Provide Additional Guidance Regarding CFPB ATR/QM Rule

On October 1, Freddie Mac issued an industry letter and Fannie Mae issued Lender Letter LL-2013-07 to provide additional information regarding Freddie Mac’s and Fannie Mae’s new purchase eligibility requirements based on the...more

Fannie Mae, Freddie Mac Update Selling Policies Based On CFPB QM Rule

On August 20, Fannie Mae issued Announcement SEL-2013-06 and Freddie Mac published Bulletin 2013-16, both of which update numerous selling requirements in response to the CFPB’s final Ability-to-Repay/Qualified Mortgage...more

Fannie Mae, Freddie Mac Directed To Purchase Only QM Loans

On May 6, the FHFA announced that Fannie Mae and Freddie Mac must limit their future mortgage acquisitions to loans that meet the requirements for qualified mortgages under the CFPB’s January 2013 ability-to-repay/qualified...more

Infobytes - A Weekly In-depth review of news & developments in the financial services industry - May 10, 2013

In This Issue: - FEDERAL ISSUES - STATE ISSUES - COURTS - MISCELLANY - FIRM NEWS - FIRM PUBLICATIONS - MORTGAGES - BANKING - CONSUMER FINANCE - SECURITIES - PRIVACY/DATA SECURITY -...more

GSEs: Ability-to-Repay and Qualified Mortgages

Yesterday, the Federal Housing Finance Agency (FHFA) announced that it is directing Fannie Mae ("Fannie") and Freddie Mac ("Freddie") to limit their future mortgage acquisitions to loans that meet the requirements for a...more

Orrick's Financial Industry Week in Review - January 14, 2013

In This Issue: - Financial Industry Developments •CFPB Rules on Ability-to-Repay and Qualified Mortgages •Independent Foreclosure Review Settlement •CFPB Final Rules on High-Cost Mortgages •Rating Agency...more

Infobytes - A Weekly In-depth review of news & developments in the financial services industry - January 11, 2013

In This Issue: - FEDERAL ISSUES - STATE ISSUES - COURTS - MISCELLANY - FIRM NEWS - FIRM PUBLICATIONS - MORTGAGES - BANKING - CONSUMER FINANCE - SECURITIES - PRIVACY/DATA SECURITY -...more

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