A mortgage lender’s strategic decision to originate only qualified mortgages, in and of itself, will not heighten its fair lending risk, according to joint interagency guidance issued earlier this week. The agencies said they have received numerous inquiries from lenders about whether they would be liable under the disparate-impact doctrine of the Equal Credit Opportunity Act if they originate only QMs as defined under the Consumer Financial Protection Bureau’s ability-to-repay rule. Based on their view that the requirements of the ATR rule and ECOA are...