Consumer Financial Protection Bureau Issues Two Final Rules Changing General QM Standard and Creating Seasoned QM Standard
By EsqSocial Corporation 12/01/21
The Consumer Financial Protection Bureau (CFPB) released two final rules amending the General Qualified Mortgage loan definition in Regulation Z and creating a new “Seasoned QM” loan category in Regulation Z. The General QM Final Rule replaces the current requirement for the General QM loans that the consumer’s debt-to-income ratio (DTI) not exceed 43 percent with a limit based on the loan’s pricing......
By: Perkins Coie