Loading...

2021-08 August - New Ability-to-Repay (ATR) and Qualified Mortgage (QM) Rules

Course Description

The CFPB has updated amended its rules on criteria for certain consumer-purpose mortgage loans to be protected from legal action, called the “Qualified Mortgage” rules. This is due in no small part to the expiration of the so-called “GSE Patch,” which allowed some loans with excessive Debt-to-Income (DTI) ratios to qualify. This test has been replaced with a pricing standard dependent on the loan’s APR. As well, a new category of Qualified Mortgages, called “Seasoned QMs,” has been introduced, which will allow for loans with three years’ of good payment history to gain the protections. We’ll discuss these requirements and how they may impact your institution. This is due in no small part to the expiration of the so-called “GSE Patch,” which allowed some loans with excessive Debt-to-Income (DTI) ratios to qualify. This test has been replaced with a pricing standard dependent on the loan’s APR. As well, a new category of Qualified Mortgages, called “Seasoned QMs,” has been introduced, which will allow for loans with three years of good payment history to gain the protections. We’ll discuss these requirements and how they may impact your institution. Covered Topics New Qualified Mortgage (QM) Rules Types of Qualified Mortgages Revised Qualified Mortgage (QM) Rules The “GSE Patch” New Seasoned QM Rule Seasoned QM Requirements
Series: Director Education Series
Roles: Board of Directors
Course Format: Webinar
Package: Director Education Webinar Series

Request more info

An investment in your employees is an investment in the health of your financial institution.

Let us create a unique online training program for you. Fill out the form to be contacted by a Sales Representative.

How can we reach you?

View Related Series

https://www.oncourselearning.com/catalogs/wp-content/uploads/sites/11/2021/04/DirectorSeries-CMYK.png

Director Education Series

The Directors Education Series provides targeted training modules focused on the Bank Director's conduct, responsibilities and liabilities. All programs have been authored by highly recognized, respected industry experts.

View Series

Refresher Series for Credit Unions

The Refresher Series is a convenient solution for your experienced employees who need to stay current on regulatory and vital financial information. These courses target fundamental topics and move swiftly yet effectively in a smaller duration of time.

View Series

Diversity and Inclusion

Today's workforce requires employees and managers to possess the ability to understand their co-workers and fellow team members. These courses provide the most up-to-date information on topics that educate staff to understand and handle these subjects.

View Series