[SS LO] Ability to Repay and Qualified Mortgages
Course Description
The Ability to Repay Rule and the Qualified Mortgage Rule have greatly altered the standards by which many mortgage loan transactions are conducted. The primary goal of these rules is to enhance and ensure consumer protection in the mortgage industry by establishing guidelines for what constitutes a safe mortgage loan transaction. It is important for mortgage professionals to be familiar with these standards, to ensure compliance with the law and the continuation of a sound, safe mortgage market.
This course will review the Ability to Repay Rule and the Qualified Mortgage Rule and their influence on mortgage loan transactions. In addition, the concept and importance of tangible net benefit will be discussed.
10 Minutes
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