Regulation Z contains several categories of QMs, including the General QM category and a temporary category (Temporary GSE QMs) of loans that are eligible for purchase or guarantee by government-sponsored enterprises (GSEs) while they are operating under the conservatorship or receivership of the Federal Housing Finance Agency (FHFA). 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 “qualified mortgages” (QMs) obtain certain protections from liability. ACTION:įinal rule official interpretation. Start Preamble Start Printed 02 AGENCY:īureau of Consumer Financial Protection. Supplement I to Part 1026-Official Interpretations.Subpart E-Special Rules for Certain Home Mortgage Transactions.PART 1026-TRUTH IN LENDING (REGULATION Z).Potential Impact on Depository Institutions and Credit Unions With $10 Billion or Less in Total Assets, as Described in Section 1026 Benefits to Covered Persons From Market Expansion.Foreclosure Risk of Loans That Meet Seasoned QM's Performance Requirements in Baseline 2.Foreclosure Risk of Loans That Meet Seasoned QM's Performance Requirements in Baseline 1.Potential Benefits and Costs to Covered Persons and Consumers 43(e)(7) Qualified Mortgage Defined-Seasoned Loans.43(e)(2) Qualified Mortgage Defined-General.43(e)(1) Safe Harbor and Presumption of Compliance.1026.43 Minimum Standards for Transactions Secured by a Dwelling.Comments in Opposition to a Seasoned QM Definition Comments in Support of a Seasoned QM Definition
Considerations Related to Ability To Repay Discussed in the Proposal Considerations Related to Access to Responsible, Affordable Credit Discussed in the Proposal Why the Bureau Is Issuing This Final Rule Extension Proposal, General QM Proposal, and Ensuing Final Rules.The Advance Notice of Proposed Rulemaking.Effects of the COVID-19 Pandemic on Mortgage Markets The Bureau's Assessment of the ATR/QM Rule Presumption of Compliance for Existing Categories of QMs Under the ATR/QM Rule Economic Growth, Regulatory Relief, and Consumer Protection Act Dodd-Frank Act Amendments to the Truth in Lending Act This repetition of headings to form internal navigation links Headings within the legal text of Federal Register documents. This table of contents is a navigational tool, processed from the Provide legal notice to the public or judicial notice to the courts. Rendition of the daily Federal Register on does not Until the ACFR grants it official status, the XML Legal research should verify their results against an official edition of The official SGML-based PDF version on, those relying on it for The material on is accurately displayed, consistent with While every effort has been made to ensure that Regulatory information on with the objective ofĮstablishing the XML-based Federal Register as an ACFR-sanctioned The OFR/GPO partnership is committed to presenting accurate and reliable Register (ACFR) issues a regulation granting it official legal status.įor complete information about, and access to, our official publications
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