A consensus is forming among consumer and housing groups that the ‘Qualified Mortgage’ (QM) rule should encompass a large chunk of conventional mortgages that are being underwritten today.

“A lot of large and responsible lenders only intend to lend in the QM space,” according to Michael Calhoun, president of the Center for Responsible Lending (CRL). “So the QM rule will define which loans are available in the market,” he said at a recent housing finance forum.

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