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The Consumer Financial Protection Bureau said in January that it will permit the expiration of a temporary loophole called the “qualified mortgage patch” as planned, in January 2021, or soon afterward. The CFPB has begun soliciting public comments on a possible replacement.
Under this loophole, Fannie Mae and Freddie Mac have been able to buy loans with more than the 43% debt-to-income ratio that is standard under the Ability to Repay/Qualified Mortgage rule.
