WASHINGTON—The Consumer Financial Protection Bureau said it is extending the comment period on its notice of proposed rulemaking (NPRM) to create a new category of seasoned qualified mortgages (Seasoned QMs) by three days, from Sept. 28, 2020, to Oct. 1, in order to accommodate for the Yom Kippur Jewish holiday.
On Aug. 18, 2020, the Bureau issued a press release announcing the NPRM to create Seasoned QMs as a way to encourage innovation and help ensure access to responsible, affordable credit in the mortgage market, the agency noted.
The comment period extension notice can be found here.