mortgage compliance

CFPB Updates Qualified Mortgage Rule

The Consumer Financial Protection Bureau (CFPB) has finalized two rules that will replace its Qualified Mortgage (QM) rule. The first rule, the General QM Final Rule, replaces the current QM rule which requires that a consumer’s debt-to-income ratio (DTI) not exceed 43% with a limit based on the loan’s pricing.  The second rule creates a new category for QMs, Seasoned …

Read More »