CUNA Comments to the CFPB on General QM Definition

CUNA Comments to the CFPB on General QM Definition

CUNA submitted comments to the CFPB regarding their interim final rule titled, “Qualified Mortgage (QM) Definition Under the Truth in Lending Act (Regulation Z): General QM Definition.” This rule would amend Regulation Z to, among other things, replace the 43% debt-to-income (DTI) requirements and Appendix Q DTI calculation requirements with a more streamlined price-based approach.

Read the letter here. Please contact Damon Smith for any questions.