Regulation & law · 11/12/2013

HUD Establishes Definition of Qualified Mortgage for Insured and Guaranteed Single Family Mortgages

The U.S. Department of Housing and Urban Development (HUD) has finalized a rule defining a 'qualified mortgage' for single-family residential loans it insures, guarantees, or administers, aligning with the Truth-in-Lending Act's ability-to-repay criteria and the Consumer Financial Protection Bureau's regulatory definition.