After a two-week span in August without presale reports for non-agency MBS, five deals have been detailed in September with more in the works.

“The QM patch expiration presents an opportunity for regulators to streamline certain rules to put the housing-finance sector on the best possible footing going forward,” Redwood said.

The CFPB introduced a compliance assistance sandbox policy, a revised no-action letter policy and a trial disclosure program policy.

While members of the SFA support ending the QM patch, there's no consensus on what other changes the CFPB should make.

Trustees will be key players in facilitating a transition from LIBOR to a new reference rate for adjustable-rate mortgages.