The Consumer Financial Protection Bureau’s proposal to allow its temporary rule providing a conditional exemption to its Qualified Mortgage (QM) standard, commonly known as the GSE or QM patch, to expire has revealed rare synergy among financial sectors and consumer rights organizations.
A coalition of 23 of the largest industry trade groups, civil rights organizations and individual financial institutions wrote a comment letter detailing shared recommendations for the bureau to consider regarding its advance notice of proposed rulemaking on the QM patch.
Learn more about the groups and their shared views on the issue.