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On December 10, 2020, the CFPB released two separate final rules: the first, redefining the General Qualified Mortgage requirements (General QM Rule); and the second, establishing requirements for a new Seasoned QM loan (Seasoned QM Rule). Both rules will become effective 60 days after they are published in the Federal Register, expected shortly. Another recent final rule provides that the so-called “Temporary GSE Patch QM” will expire on the mandatory effective date of the General QM Rule which is July 1, 2021, or the date the GSEs exit conservatorship, if earlier than July 1.