It’s no secret that early buyouts of delinquent FHA and VA loans are rising. Ginnie Mae, as might be expected, is keeping a close watch. (Includes data chart.)
The CARES Act established a mandate for forbearance but the Conference of State Bank Supervisors said it’s not clear when residential servicers should stop offering new relief plans.
Under the new language, a loan meets the general QM definition if its annual percentage rate exceeds the average prime offer rate (APOR) for a comparable transaction by less than 2.25 percentage points.
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