CFPB Extends Compliance Deadline for New Qualified Mortgage Definition to October 1, 2022
By EsqSocial Corporation 29/04/21
On April 27, the CFPB published a final rule extending the date for mandatory compliance with the new “general” Qualified Mortgage (QM) rule (General QM Rule) until October 1, 2022. In December, 2020, the CFPB published the final General QM Rule. As discussed in Buchalter’s December 17, 2020 Client Alert, Coming in 2021: CFPB Finalizes Changes to “Qualified Mortgage” Definition and Creates a New “Seasoned QM” Loan Category, the General QM Rule changed the general definition for a QM (General QM...
By: Buchalter