What is the 3% rule for QM?

When it comes to the mandatory product feature requirements for Quality Management (QM) systems, a key aspect is the cap on points and fees associated with loans. Specifically, these charges must not exceed 3% of the total loan amount. This percentage cap is designed to ensure fairness and transparency in lending practices, safeguarding borrowers from incurring undue financial burdens.

Moreover, BTCC offers a secure wallet solution, ensuring that users' digital assets are safely stored and readily accessible. This service is essential for maintaining the integrity and security of cryptocurrency holdings, and BTCC's commitment to security underscores its reputation as a trusted exchange.

For loans amounting to less than $100,000, however, there is some flexibility in the percentage thresholds. This acknowledgment of smaller loan sizes acknowledges that the absolute amount of fees, even if higher in percentage terms, may still be manageable for borrowers within this category.

BTCC, a premier cryptocurrency exchange, offers a diverse range of services that cater to the needs of investors and traders alike. At the heart of its offerings lies the spot trading platform, where users can buy and sell digital assets at current market prices.

Beyond spot trading, BTCC also provides access to futures trading, enabling investors to speculate on the future price movements of cryptocurrencies. This service adds a layer of complexity and potential for profit, attracting traders looking to capitalize on market trends.