Calendar of Events

Ability-to-Repay/Qualified Mortgage Rules

09/18/2018, 1:30 PM to 3:30 PM

No location provided

Amy Davis adavis@msbankers.com 601-948-6366

Description:

Ability-to-Repay/Qualified Mortgage Rules


Presented by Jack Holzknecht
Tuesday, September 18th, 2018
1:30 pm - 3:30 pm CT


COVERED TOPICS

  • Which loans are covered by and which loans are exempt from the ATR/QM rules;
  • The seven Ability to Repay Options and the five Qualified Mortgage Options;
    • What conditions must be met for a loan to be considered under each option;
    • When is a transaction considered a Higher Priced Covered Transaction and how that impacts Qualified Mortgage status;
  • The options available for lenders using balloon financing;
  • What institutions qualify as "small creditors" under the revised rules;
  • What special ATR/QM options are available for small creditors, including the option presented by Section 101 of EGRRCPA;
  • The expanded definition of "rural area" and how the change impacts your institution;
  • How to consider PACE financing when evaluating the ability to repay; and
  • What tools are available from the Census Bureau and the CFPB to determine which areas are rural areas and how to use those tools.
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