The QM Patch’s Impact on Affordable Housing

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The latest proof is the housing lobby’s push to revamp something known as the QM patch. The patch is an exemption from the 43 percent debt-to-income (DTI) test included in the CFPB’s 2013.

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Calabria called the CFPB’s move away from the QM patch a "critical component of moving toward a competitive mortgage finance system" that would ensure the GSEs lose special privileges as the government embarks on housing finance reform.

While proponents of the QM Patch say that its expiry in 2021 would make homes less affordable, especially in the lower-tier housing market, an article in Forbes points out that if the Trump. Record $103.7M Invested To Expand Housing – Silver Spring, MD – Montgomery County’s Housing Initiative Fund has invested $103.7M to expand affordable housing in FY 2019, setting a record.

The QM Patch’s Impact on Affordable Housing. The Trump Administration Can Make Housing More Affordable By Letting The QM Patch Expire Forbes Tue, Jun 04, 2019 03:21:00 AM PT. The Trump Administration Can Make Housing More Affordable By Letting The QM Patch Expire.

The difficulty of finding affordable housing has led more than half of all those responding, and more than three-quarters of renters, to attempt to curtail their non-housing spending. Technically, the QM rule itself has been muted because of the seven-year exemption for loans backed by Fannie and Freddie. Since the QM rule went into effect in 2014, mortgage lenders have lobbied the CFPB to change – if not eliminate entirely – Appendix Q, which could have a huge impact on credit availability.

 · The agenda will include discussion of state hfas’ roles and impacts in the housing finance system and NCSHA priorities on the gses’ affordable housing goals, Duty-to-Serve obligations, and housing trust fund financing. ncsha staff Stockton Williams, Garth.

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