Industry trade groups want the final rule to include clear exceptions to the moratorium provisions, clarify the scope of the streamlined modification exemption and streamline proposed early intervention requirements.
Loan officers’ wallets continued to get fatter in the first quarter, thanks to mortgage origination volumes hitting new records. However, industry bean-counters expect that to change once rates start to increase.
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.