Welcome to the QM Reading Room. On this page, you’ll find a curated list of news and opinion relating to the qualified mortgage (QM) rule. These rules were announced by the Consumer Financial Protection Bureau (CFPB) in January 2013, and are scheduled to take effect in January 2014. Here is the latest news and commentary on the subject:

ICBA Urges Changes to CFPB Qualified Mortgage Rule

The Independent Community Bankers of America (ICBA) seeks adjustments to the recently finalized rules issued by CFPB. They’ve requested six changes to the QM regulations. Among them: “Do not include mortgage loan originator compensation in the total points and fees calculation for loans that receive the QM designation.”
Published on February 27, 2013

MBA Recommends Changes to Qualified Mortgage

According to HousingWire, the Mortgage Bankers Association (MBA) is pressing for revisions to the QM rule. The MBA recently sent a letter to the Consumer Financial Protection Bureau asking for certain changes, before the rules take effect in 2014. Among the proposed amendments — raise the limit on points and fees from $100,000 to $150,000.
Published on February 26, 2013