Ability to Repay and Qualified Mortgages (ATR/QM)

On October 20, 2020 the CFPB issued a final rule amending the ATR/QM Rule.  The rule extends the sunset date for the Temporary GSE QM category (GSE Patch). With certain exceptions, Regulation Z requires creditors to make a reasonable, good faith determination of a consumer’s ability to repay any residential mortgage loan, and loans that meet Regulation Z’s requirements for … Read More