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CFPB releases QM final rule
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Banking, Consumer Protection
Thursday, January 10, 2013
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The housing finance sector’s long wait for one of Dodd-Frank’s most highly-anticipated final rules is at an end. The Consumer Financial Protection Bureau released its ability-to-repay rule on Jan. 10. The rule implements Dodd-Frank provisions requiring mortgage lenders to verify and document their customers’ ability to repay before extending credit. Read on to learn about the CFPB’s solutions to questions regarding the structure of QM.
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