Lenders are hoping the Consumer Financial Protection Bureau (CFPB) will approve a 'qualified mortgage' (QM) rule with a safe harbor, protecting them from consumer lawsuits, but a legal analysis shows lenders may still be vulnerable if they are careless or cut corners.

“The QM's requirement to 'satisfy' the safe harbor means the creditor can be challenged on whether they actually 'satisfied,' or strictly fulfilled, the substantive prongs that give rise to the safe harbor,” according to an analysis prepared by the BuckleySandler law firm for the American Bankers Association (ABA).

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