CFPB QM Rule - Looking for a 'Safe Harbor'

The Consumer Financial Protection Bureau still has to make a key decision before it can finalize a regulation that will determine what kind of loans -- and features -- mortgage bankers can offer consumers without facing potential legal liability of up to $100,000 per unit.

The regulation is the known as the "Qualified Mortgage" rule and lenders are seeking a "safe harbor" to easily protect themselves from liability. The alternative is a "rebuttal presumption" of compliance with the QM rule, which lenders claim would lead to litigation and reduce the availability of mortgage credit.