According to the ABA, "Under the qualified mortgage rule finalized last year, lenders with less than $2 billion of assets that make 500 mortgages or fewer per year are exempt from certain parts of the QM rule, including the debt-to-income ratio requirement if they hold the mortgages in their portfolio. Cordray said that exemption covers more than 90% of small creditors in the market. But he said the CFPB is watching the situation carefully and asking for feedback from lenders."
