Fannie Mae issued Lender Letter LL-2021-09 addressing the revised qualified mortgage rule and loan eligibility. Per the Lender Letter, loans with application dates on and after July 1, 2021 must meet the Consumer Financial Protection Bureau’s revised qualified mortgage rule (that became effective March 1, 2021). Loans with application dates prior to July 1, 2021 that do not meet the revised qualified mortgage rule must be purchased as whole loans on or before August 31, 2021, or must be in MBS pools with an issue date on or before August 1, 2021.
Click to view the Fannie Mae Lender Letter LL-2021-09: https://www.tenaco.com/wp-content/uploads/2021/04/Fannie-Mae-Lender-Letter-LL-2021-09-04-08-21.pdf
