Consumer advocates are worried that the qualified mortgage rule will affect the ability for certain underserved groups, like borrowers of Hispanic origin to obtain a loan. But a loan officer in Chicago says in the brief time QM and ability to repay has been in effect, it has not affected her clients.

"I have not seen or run into any challenges," says Siomara Barboza, who recently joined Inlanta Mortgage's Oak Brook, Ill., office. "It is pretty early on but I think that when it comes to the company which you work for, it depends on how prepared and what their flexibilities are" in underwriting.

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