In December 2020, the CFPB finalized new requirements for the General QM and these were set to take effect on March 1, 2021. However, it later delayed that mandatory compliance date to October 1, 2022. In essence, the CFPB planned to kick the can down the road regarding the New General QM. Fannie and Freddie; however, recently announced they have other plans. On April 8, 2021, they both announced that they will only purchase loans that comply with the New General QM requirements. This applies to applications received on or after July 1, 2021. If you sell loans to Fannie Mae and Freddie Mac, you will need to get up to speed on the requirements for the New General QM before July 1st.
Who should attend
This webinar is designed for management, loan officers, loan processors, compliance, audit and loan operations personnel.
Recommended for 1.25 CEU Credit Hours. After attending this webinar, each attendee can receive a Certificate of Attendance for self-reporting of CEU Credits.