From Director Cordray's prepared remarks:
Qualified Mortgages cover the vast majority of loans made in today’s market, but they are by no means all of the mortgage market…Read more.
Lenders that have long upheld such standards have little to fear from the Ability-to-Repay rule; the strong performance of their loans over time demonstrates the care they have taken in underwriting to ensure that borrowers have the ability to repay. Nothing about their traditional lending model has changed, and they should continue to offer the same kinds of mortgages to borrowers whom they evaluate as posing reasonable credit risk – whether or not they meet the criteria to be classified as Qualified Mortgages.
[W]e estimate that more than 95 percent of the mortgage loans being made in the current market will be Qualified Mortgages.