On Tuesday November 5th, SFA convened a members-only QM Roundtable to discuss the future of the mortgage market given the pending expiration of the GSE’s QM Patch. During the roundtable, SFA members, including originators, Issuers, investors, servicers and others, discussed the current issues in the QM and non-QM markets. SFA CEO Michael Bright also emphasized the importance of the industry’s role in helping to promote clarity and certainty if the CFPB rule creates a narrow QM market. SFA members also discussed possible industry-led initiatives to fill the role currently played by the GSEs under the Patch, including the development of an industry self-regulating organization (SRO) that would promote industry-led standards, and use historical performance data to responsibly expand access to credit in accordance with the intent of the statute and rule promulgated by the CFPB.

Read more via the QM Roundtable recap.