The Consumer Financial Protection Bureau has issued a final rule to extend the mandatory compliance date of the General QM Final Rule from July 1, 2021 to October 1, 2022.

The final rule is available at: www.consumerfinance.gov/rules-policy/final-rules/qualified-mortgage-definition-under-truth-lending-act-regulation-z-general-qm-loan-definition-delay-mandatory-compliance-date/

The Bureau has also issued an executive summary and an unofficial redline of the rule and has updated other compliance aids related to the ATR/QM Rule. The resources are available at: www.consumerfinance.gov/compliance/compliance-resources/mortgage-resources/ability-repay-qualified-mortgage-rule/.

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