For example, interest-only loans are a popular type of mortgage that are not covered by the QM rule. Many lenders will still originate these loans because there is a demand for such a product. These will probably be the most common loan type under the non-QM umbrella, with high-net-worth borrowers the likely target.
Alimony income. For purposes of making an IRA contribution, taxable alimony income counts as qualifying income. This is a special rule that permits you to build retirement savings in an IRA even if you rely on alimony income for your support. The rule applies only to taxable alimony income, though.
Traditional IRAs give a tax deduction when you contribute but are usually taxable when you withdraw. Roth IRAs, on the other hand, give no up-front tax deduction but you typically owe no taxes when you withdraw. You can think of a traditional IRA as tax deferred and a Roth IRA as tax free.