Private MIs reported a 19.6% drop in purchase-mortgage business during the first quarter, which still accounted for 64.8% of their new insurance written for the period.
At issue: the new QM standards were drafted when the CFPB was under the leadership of Republican Kathleen Kraninger, who was appointed during the Trump administration.
The RFI appears to be in response to long-standing complaints about how the GSEs deal with properties that earn an income by providing transient housing...