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CFPB RIN: 3170-AA98 Publication ID: Fall 2019 
Title: ●Qualified Mortgage Definition Under the Truth in Lending Act (Regulation Z) 

In July 2019, the Bureau of Consumer Financial Protection (Bureau) issued an Advance Notice of Proposed Rulemaking (ANPR) to solicit information about possible amendments to the qualified mortgage provisions of Regulation Z. With certain exceptions, Regulation Z requires creditors to make a reasonable, good faith determination of a consumer’s ability to repay any residential mortgage loan, and loans that meet Regulation Z’s requirements for "qualified mortgages” obtain certain protections from liability. One category of qualified mortgages (QMs) is loans that are eligible for purchase or guarantee by either the Federal National Mortgage Association (Fannie Mae) or the Federal Home Loan Mortgage Corporation (Freddie Mac).  Under Regulation Z, this category of QMs (Temporary GSE QM loans) is scheduled to expire no later than January 10, 2021.  The Bureau currently plans to allow the Temporary GSE QM loan category to expire and is considering whether to revise Regulation Z’s general qualified mortgage definition in light of this planned expiration. The Bureau is further considering a limited extension of the expiration date only as necessary to provide for a smooth and orderly transition away from the Temporary GSE QM loan category.  In July 2019, the Bureau issued the ANPR to request information about issues related to the scheduled expiration of the Temporary GSE QM loan category.

Agency: Consumer Financial Protection Bureau(CFPB)  Priority: Other Significant 
RIN Status: First time published in the Unified Agenda Agenda Stage of Rulemaking: Prerule Stage 
Major: Undetermined  Unfunded Mandates: Undetermined 
EO 13771 Designation: Independent agency 
CFR Citation: Not Yet Determined     (To search for a specific CFR, visit the Code of Federal Regulations.)
Legal Authority: 12 U.S.C. 1639c(b)(3)(A), (B)   
Legal Deadline:  None
Action Date FR Cite
ANPRM  07/31/2019  84 FR 37155   
ANPRM Comment Period End  09/16/2019 
Other  12/00/2019 
Regulatory Flexibility Analysis Required: Undetermined  Government Levels Affected: Undetermined 
Small Entities Affected: Businesses  Federalism: Undetermined 
Included in the Regulatory Plan: No 
RIN Data Printed in the FR: No 
Agency Contact:
Mark Morelli
Office of Regulations
Consumer Financial Protection Bureau
Washington, DC 20552
Phone:202 435-7700