Qualified Mortgage Definition Under the Truth in Lending Act (Regulation Z): General QM Loan Definition; Delay of Mandatory Compliance Date

Document Headings Document headings vary by document type but may contain the following: the agency or agencies that issued and signed a document the number of the CFR title and the number of each part the document amends, proposes to amend, or is directly related to the agency docket number / agency internal file number the RIN which identifies each regulatory action listed in the Unified Agenda of Federal Regulatory and Deregulatory Actions See the Document Drafting Handbook for more details. Bureau of Consumer Financial Protection 12 CFR Part 1026 [Docket No. CFPB-2021-0003] RIN 3170-AA98 AGENCY: Bureau of Consumer Financial Protection. ACTION: Proposed rule; request for comment. SUMMARY: The Bureau of Consumer Financial Protection (Bureau) is proposing to delay the mandatory compliance date of the final rule titled Qualified Mortgage Definition under the Truth in Lending Act (Regulation Z): General QM Loan Definition (General QM Final Rule) until October 1, 2022. DATES: Comments must be received on or before April 5, 2021. ADDRESSES: You may submit comments, identified by Docket No. CFPB-2021-0003 or RIN 3170-AA98, by any of the following methods: Federal eRulemaking Portal: http://www.regulations.gov . Follow the instructions for submitting comments. Email: 2021-NPRM-QMComplianceDateDelay@cfpb.gov . Include Docket No. CFPB-2021-0003 or RIN 3170-AA98 in the subject line of the message. Mail/Hand Delivery/Courier: Comment Intake—QM Compliance Date Delay, Bureau of Consumer Financial Protection, 1700 G Street NW, Washington, DC 20552. Instructions: The Bureau encourages the early submission of comments. All submissions should include the agency name and docket number or Regulatory Information Number (RIN) for this rulemaking. Because paper mail in the Washington, DC, area and at the Bureau is subject to delay, and in light of difficulties associated with mail and hand deliveries during the COVID-19 pandemic, commenters are encouraged to submit comments elect…