CFPB Issues Rule Delaying the Mandatory Compliance Date of the New General Qualified Mortgage Final Rule
By EsqSocial Corporation 26/05/21
On April 27, the Bureau of Consumer Financial Protection (CFPB) issued a final rule to delay the mandatory compliance date for the General QM Final Rule until October 1, 2022. The CFPB stated that it issued the rule “to help ensure access to responsible, affordable mortgage credit and to preserve flexibility for consumers affected by the COVID-19 pandemic and its economic effects.” The mandatory compliance was originally set for July 1....
By: Troutman Pepper