CFPB Publishes Final Qualified Mortgage Rule

Yesterday, the Consumer Financial Protection Bureau (CFPB) issued its much-anticipated final rule concerning qualified mortgages. In July, 2010, Congress passed the Dodd-Frank Financial Reform Act mandating that the CFPB propose rules to protect consumers from toxic mortgage products. The CFPB, following its Congressional mandate, has created a final rule after reviewing 1,800 public comments from industry groups,…