[SS Gen] Qualified and Non-Qualified Mortgage Programs

Course Description

The Ability to Repay/Qualified Mortgage Rule provides that when creditors make “qualified mortgages,” they may presume that the loans have met the requirements for establishing the borrower’s repayment ability. Since the law creates a “safe harbor” from liability for loan originators who make loans that meet the characteristics of a qualified mortgage, there is incentive for loan originators to make such loans. Even so, loan originators are permitted to make other types of loans that may not necessarily meet the requirements of a qualified mortgage.

This course provides an overview of qualified mortgages and their applicable rules and regulations. In addition, features and regulations pertinent to non-qualified mortgages will be discussed.

20 Minutes