CFPB Delays Mandatory Compliance Date for General Qualified Mortgage Final Rule

• – Today the Consumer Financial Protection Bureau (CFPB) formally delayed the mandatory compliance date of the General Qualified Mortgage (QM) final rule from July 1, 2021 to October 1, 2022.
• The CFPB is taking this action to help ensure access to responsible, affordable mortgage credit, and preserve flexibility for consumers affected by the COVID-19 pandemic and its economic effects.

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– CFPB Delays Mandatory Compliance Date for General Qualified Mortgage Final Rule