CDFI Bank Quontic Bank in New York has begun originating "Lite Doc" loans that feature streamlined income documentation requirements. But the new product also has stringent down-payment and credit score requirements, unlike no-doc, low-doc and stated-income mortgages from the early 2000s. The mortgages take advantage of Quontic’s CDFI status, which exempts the bank from the ability to repay and qualified mortgage rules. The exemptions were put in place to allow CDFIs to continue existing loan programs directed at underserved communities that might not meet the new, more stringent standards, said Jeannine Jacokes, chief executive of CDBA. “When the rule came out, many were concerned that the rules would not allow them to do the lending they had previously done,” Jacokes said, and ultimately the CFPB “didn’t want to disrupt our models that have worked well.”