Mortgage professionals weigh QM concurrent proposal

The Consumer Financial Protection Bureau released its ability-to-repay/qualified mortgage rule on Jan. 10, but the rule’s impact on community lenders and the customers they serve still isn’t clear. That’s because, in addition to the final rule, the bureau released a concurrent proposal that includes a set of important rule modifications and exemptions. The comment period for the concurrent proposal recently closed. Read on to learn what community lenders and mortgage brokers had to say about the CFPB’s plans to craft a new QM category and settle outstanding issues related to loan originator compensation.