Which type of QM can be originated by all creditors and is only originated during a transitional period?

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The type known as Temporary QM can be originated by all creditors and is specifically designed to be used during a transitional period. This category was established to provide a temporary pathway for creditors to continue lending while the market adjusts to new regulations following the introduction of the Qualified Mortgage (QM) rule. The Temporary QM allows for certain loans to be originated without meeting all the stricter requirements typically imposed on other types of QM loans.

This flexibility is crucial for ensuring that lending can continue smoothly, particularly in times of regulatory change. It's aligned with the intent to support a broad range of lending practices, thus making it accessible to all creditors, irrespective of their size or capacity, during this transitional phase. The transitional nature of this classification is essential as it reflects the temporary allowances made for specific market conditions as the industry adjusts to new rules and standards.

In contrast to this, the other QM types have more stringent requirements and may not apply universally across all creditors, which is why they do not fulfill the criteria outlined in the question.

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