Mitt Romney may be getting impatient for the final rule on the "qualified mortgage" definition from the Consumer Financial Protection Bureau, but lenders are taking their best – and very conservative – guess at it for now.

"They are being super strict about debt-to-income ratios, which is limiting some borrowers from getting a home loan," writes American Banker’s Kate Berry.

The final rule is expected in January, but the uncertainty until then is "causing lenders to keep standards tight because they don't know what risk they're taking until the final rule is complete," says David H. Stevens of the Mortgage Bankers Association.

"The uncertainty associated with Dodd-Frank has kept people on the sidelines and since we haven't written the rules, a lot of people haven't decided if they want to participate in lending at all," says Chris George of CMG Mortgage.

For the full piece see "Mortgage Lenders Tighten Requirements Ahead of QM Rule" (may require subscription)