Common Contracts
1 similar null contracts
SUBJECT: UPDATES IN RESPONSE TO THE AMENDED SENIOR PREFERRED STOCK PURCHASE AGREEMENT (PSPA) – GOVERNMENT LOANS AND THE CFPB REVISED GENERAL QM DEFINITION RULEApril 8th, 2021
Freddie Mac, through the FHFA as its conservator, entered into a Letter Agreement dated January 14, 2021 (the “PSPA”) with the Department of the Treasury to amend the Amended and Restated Preferred Stock Purchase Agreement. Under the amended PSPA, we are required to establish a program on or before July 1, 2021 that is reasonably designed to ensure that the loans we purchase are limited to those set forth in the amended PSPA, subject to certain exceptions that may be granted by the FHFA. In accordance with FHFA guidance, we are announcing requirements related to loans originated under the Consumer Financial Protection Bureau’s (“CFPB”) temporary GSE qualified mortgage rule (such mortgages “QMs”; and such temporary CFPB rule, the “GSE Patch”) in order to provide the industry time to implement any necessary changes.
