Qualified Mortgage Definition under the Truth in Lending Act (Regulation Z): General QM Loan Definition
Updated 01/05/2021
The CFPB’s final rule adopts changes to the General Qualified Mortgage (QM) definition that eliminate the 43 percent debt-to-income requirement and adopt price-based thresholds. The final rule also sets the new expiration date for the Temporary GSE QM to the earlier of July 1, 2021 or whenever the GSEs cease to operate under the conservatorship of the FHFA.
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