The ability-to-repay rule issued by the Consumer Financial Protection Bureau will alter originations of non-agency jumbo mortgages somewhat, according to industry analysts. However, pending rules to set risk-retention requirements and define qualified-residential mortgages are a greater concern to non-agency mortgage-backed security market participants. The CFPB’s new ATR rule included special treatment for “qualified mortgages,” including a temporary exception (for up to seven years) for all agency ...