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QM - What Changed?

  • Abandon Appendix Q

  • Rate Threshold Determination for QM Status: 2.25%

  • Seasoned QM for performing loans > 36 months

  • 4 month either/or GSE status patch - use either old or new guidelines

What didn't change

  • Compensation limits

  • Loan type constraints

  • Transaction exemptions

  • Qualifying rate

Detailed article evaluating changes
Download Updated Ability to Repay Policy
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