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.
Additional non-agency MBS with GSE-eligible mortgages for investment properties are expected due to new limitations on Fannie/Freddie acquisitions of such loans.
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...
Joe Garrett: “Companies that don’t seem to get too agitated about the occasional loss, and we’ve seen too many of them, seem to have more and larger losses than those companies that are obsessive about not losing money.”