CFPB Proposes To Delay The Mandatory Compliance Date Of The

CFPB Proposes To Delay The Mandatory Compliance Date Of The New General Qualified Mortgage Final Rule - Finance and Banking


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On February 23, the Consumer Financial Protection Bureau (CFPB)
issued a statement that it planned to propose
a rule to "delay the July 1, 2021 mandatory compliance date of
the General QM Final Rule." Consistent with that, the CFPB announced a notice of proposed rulemaking (NPRM) on March
3, which would push back the current mandatory compliance date for
the General Qualified Mortgage (QM) Final Rule to October 1, 2022.
This would significantly extend the "GSE patch" and may
be a sign of more things to come.
As discussed more fully in a prior post, the General QM Final Rule was

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