CFPB Delays Mandatory Compliance Date of New General Qualified Mortgage Rule

The CFPB lately issued a final rule delaying the mandatory compliance day for the new common qualified mortgage loan (QM) rule primarily based on an yearly percentage fee (APR) restrict from July 1, 2021 to Oct 1, 2022. The final rule is successful on June thirty, 2021. The CFPB also issued an government summary of the final rule….
By: Ballard Spahr LLP