Even though the NCUA was not among six federal agencies who said Wednesday they will revise their proposed qualified residential mortgage rules, credit unions could still feel the effects of the change.
The revisions will put the six agencies, which include the FDIC, in line with the Consumer Financial Protection Bureau's definition of a qualified mortgage.
The revised rule from the FDIC and the other agencies also requested comment on an alternative definition of QRM that would include additional underwriting standards not included in the CFPB's rule.
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