CFPB Finalizes Increased Limit for QM “Small Creditors”

The CFPB has finalized its proposed rule that increases the total loan threshold from 500 to 2,000 for the small creditor exemption to the ability-to-repay rule/qualified mortgage rule. The intent of the increase is to expand lending opportunities for small lenders, particularly in rural and underserved areas. [9/23/15]