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WHF/WHFF Partner Series: The "Patch" is Expiring: What Comes Next for Qualified Mortgage Loans?
Wednesday, August 12, 2020, 12:00 PM - 1:00 PM EST
Category: Events

WHF/WHFF Partner Series: The "Patch" is Expiring: What Comes Next for Qualified Mortgage Loans?

Program Description:

With the Patch expiration date of January 2021 quickly approaching the CFPB is proposing two significant rule changes to its Ability to Repay/Qualified Mortgage Rule. 
First, the CFPB is proposing to delay the Patch expiration until the earlier of the GSEs exiting conservatorship or the effective date of a new definition of a Qualified Mortgage. 
Second the CFPB is proposing to redefine what constitutes a Qualified Mortgage by removing Appendix Q and substituting a pricing threshold for the DTI threshold. 

Mr. Platt will discuss these proposed changes and what they mean for originators and investors.  Although lenders have struggled with the rigidity of Appendix Q, what will replace it? And will that replacement provide sufficient certainty to lenders and investors that consumers are able to repay their loans.

Ms. Rice will address the perceived impact of the rule, if revised as proposed, on access to responsible credit.

Laurence Platt, Partner, Mayer Brown
Lisa Rice, President and Chief Executive Officer, National Fair Housing Alliance 

About the Speakers:

Laurence Platt is a partner in Mayer Brown's Washington DC office and a member of the Financial Services Regulatory & Enforcement practice. He concentrates his practice on a range of matters related to real estate finance, mortgage banking and consumer finance in both the primary and secondary markets. His practice includes:

          • Drafting and negotiating agreements concerning: mergers and acquisitions of companies in both asset and stock transactions; loan broker, loan correspondent and whole loan purchase agreements; servicing rights purchase and sale agreements; and servicing and sub-servicing agreements.
          • Counseling clients on federal and state consumer credit laws.
          • Defending companies in connection with federal and state governmental audits, investigations and enforcement proceedings.
          • Assisting in litigation involving consumer class action lawsuits and commercial claims.
          • Advising clients on public policy issues related to housing finance issues.
Laurence has been ranked by Chambers USA for Financial Services Regulation: Consumer Finance - Compliance (Star Individuals) (2012 through 2019). Laurence was listed in Best Lawyers in America 2012-2020 for banking and finance law. He has been elected a Fellow of the American College of Consumer Financial Services Lawyers. In 2006, he received an inaugural Mortgage Excellence Award from Home Equity News in recognition of his service and contributions to mortgage lenders and the mortgage lending industry. From 1989 to 1997, he was on the board of directors for Montgomery Housing Partnership, Inc., a nonprofit, tax-exempt owner and developer of affordable housing in Montgomery County, Maryland. He helped found, and for more than 15 years was a pro bono lawyer for, the Unitarian Universalist Affordable Housing Corporation. From 2002 to 2006, Laurence was a board member and counsel to the board of trustees at St. Andrew's Episcopal School in Potomac, Maryland.


As President and CEO of the National Fair Housing Alliance (NFHA), Lisa Rice leads efforts by NFHA and its partners to advance fair housing principles and to preserve and broaden fair housing protections, expanding equal housing opportunities for millions of Americans.

Ms. Rice played a major role in crafting sections of the Dodd-Frank Wall Street Reform and Consumer Protection Act and in establishing the Office of Fair Lending within the Consumer Financial Protection Bureau. 

Prior to becoming President and CEO, she served as NFHA’s Executive Vice President and managed the organization’s resource development, public policy, communications, and enforcement divisions.

Ms. Rice is a member of the Leadership Conference on Civil and Human Rights Board of Directors, Center for Responsible Lending Board of Directors, JPMorgan Chase Consumer Advisory Council, Mortgage Bankers Association’s Consumer Advisory Council, Freddie Mac Affordable Housing Advisory Council, Urban Institute’s Mortgage Servicing Collaborative, and Quicken Loans Consumer Advisory Forum.

Date: Wednesday, August 12, 2020 
Time: 12:00 - 1:00 pm
Location: Webinar, Zoom access information will be provided in your confirmation email 
Cost: Members: $5 suggested donation (no charge registration is available); Non-members: $10 donation



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