CFPB Extends Seasoned Loan Proposal Comment Deadline by Three Days

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Ballard Spahr LLP

As previously reported, in August 2020 the CFPB issued a proposed rule to create a new seasoned loan qualified mortgage (QM) under the Regulation Z ability to repay rule. Initially, comments on the proposal were due by September 28, 2020. The CFPB has now extended the comment deadline to October 1, 2020. The CFPB advises that it received requests to change the original comment deadline because September 28, 2020 is the date this year of the Jewish holiday Yom Kippur.

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