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Interagency Statement on Supervisory Approach for
Qualified and Non-Qualified Mortgage Loans

December 13, 2013

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Today, the federal financial institution regulatory agencies jointly issued an Interagency statement on their supervisory approach for residential mortgage loans.

Referring to institutions under $1 billion in total assets, the Statement applies to all FDIC-supervised banks and savings associations, including community institutions.

The Financial Institution Letter states:

"The agencies recognize that many institutions are assessing how to implement the Ability-to-Repay and Qualified Mortgage (QM) Standards Rule issued by the Consumer Financial Protection Bureau. The agencies will not subject a residential mortgage loan to regulatory criticism based solely on the loan's status as a QM or a non-QM."

The Ability-to-Repay and Qualified Mortgage Standards Rule was issued January 10, 2013 and is effective January 10, 2014.



Interagency Statement on Supervisory Approach for 
Qualified and Non-Qualified Mortgage Loans
December 13, 2013

This communication is sent to our valued clients and colleagues, who regularly receive our Mortgage Compliance Updates, Compliance Alerts, Commentaries, and related publications.

These publications are free to subscribers. Information contained herein is not intended to be and is not a source of legal advice.

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