Removing Barriers Blog

CFPB Proposes Amendments to ATR-QM Rule
Posted June 23, 2020 by dyi

The CFPB issued two notices of proposed rulemaking (NPRMs) to amend the ATR-QM Rule.

The first NPRM would extend the sunset date for a temporary category of qualified mortgages sometimes referred to as the temporary GSE qualified mortgage category or as the GSE Patch.  It is available here.  The second NPRM would amend the definition of a permanent category of qualified mortgages sometimes referred to as the general qualified mortgage category. It is available here.

The Bureau has provided unofficial redlines illustrating the changes that the NPRMs would make to the ATR-QM Rule and a summary of the proposed changes. These resources are available here.