CFPB Dodd-Frank Rules: The Great Easter Egg Hunt (Part 2)

The Consumer Financial Protection Bureau’s new mortgage rules will shape the industry for years to come. But while many industry participants are focusing on the negative, Howard Lax of Bodman PLC is on the hunt for the rules’ hidden gems. This is the second in a series of articles highlighting provisions of the CFPB’s ability-to-repay rule, 12 CFR §1026.43, also known as the qualified mortgage rule. Read on to learn about the rule’s temporary financing exception.