In the April 30, 2021 issue of the Federal Register (86 FR 22844), the Bureau of Consumer Financial Protection (Bureau) published a final rule that delays the mandatory compliance date for the March 1, 2021 General Qualified Mortgage Loan definition in §1026.43(e)(2) of Regulation Z (New General QM Loan Definition) published in the December 29, 2020 Federal Register, at 85 FR 86308. The New General QM Loan Definition is the subject of our February 25, 2021 memorandum located on the Resources page of our website (click here).
The March 1, 2021 effective date of the New General QM Loan Definition remains unchanged; however, this final rule delays the mandatory compliance date until October 1, 2022. This final rule is effective on June 30, 2021.
Full Memorandum
