The Consumer Financial Protection Bureau on Wednesday published a compliance guide for small banks and mortgage lenders to better understand and comply with a rule that requires lenders to ensure borrowers have the ability to repay a loan as well as creates a separate class of loans known as "qualified mortgages."

The 45-page guide describes minimum standards lenders must use to determine that consumers have the ability to repay a mortgage and meet the "qualified mortgage" requirements. The rule goes into effect in January 2014.

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