The Consumer Financial Protection Bureau (CFPB) has decided to delay the issuance of a final ‘Qualified Mortgage’ (QM) rule until after the Nov. 6 elections, industry officials told ASR sister publication National Mortgage News.

It was commonly understood that the bureau would issue a final QM rule by the end of summer. The QM rule will establish underwriting standards that lenders can rely on in determining if a borrower has the “ability to repay” a mortgage. 

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