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Compliance Essentials: Ability to Repay (ATR) & Qualified Mortgage (QM) Resource Guide

Education Guide Regulatory Compliance, Law, & Fraud Residential
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Member $750.00
Non-Member $1,500.00

 

MBA Compliance Essentials: Ability to Repay (ATR) and Qualified Mortgage (QM) Rule Resource Guide

Summary:

The Compliance Essentials Ability to Repay (ATR) and Qualified Mortgage (QM) Resource Guide offers a complete overview of everything a mortgage lender will need to understand in order to comply with this vast and critical rule. The 200+ page guide provides historical context, legal interpretations, key definitions, draft policies and procedures, and a checklist that will help ensure that your compliance management system is capturing the key elements of QM compliance. This user friendly guide covers the ATR and QM requirements including those for General QM, Temporary GSE QM, Small Creditor QM, the new Smaller Institutions QMs, and FHA/VA/USDA/Rural Housing QM. Purchasers will receive an expanded index and structure, a new set of definitions for easy reference, and expanded footnotes section to assist with additional research as needed.

The MBA Compliance Essentials Ability to Repay (ATR) and Qualified Mortgage (QM) Rule Resource Guide is intended to serve as a foundation for your company's policies and procedures in this complicated area.

Developed by:

  • Mitchel H. Kider, Chairman and Managing Partner, Weiner Brodsky Kider PC
  • Leslie A. Sowers, Partner, Weiner Brodsky Kider PC
  • Ken Markison, Of Counsel, Weiner Brodsky Kider PC
  • Brian J. Taulbee, Counsel, Weiner Brodsky Kider PC

Chapters include:

  • Introduction, Background, and Implications of the CFPB's ATR & QM Rule
    • A Note on ARM Transactions
    • Points and Fees
    • Prepayment Penalty Restrictions
    • Limited Cure Provisions
    • Record Keeping Requirements
  • ATR & QM Sample Policies and Procedures
    • Policy Statement
    •  Scope and Purpose
    •  Role and Responsibilities
    •  Covered Transactions and Exemptions
    •  General ATR
    •  Original General QM
    •  New General QM
    •  Temporary GSE QM
    •  Government Agency QM
    •  Small Creditor Portfolio QM
    •  Small Creditor Balloon QM
    •  Smaller Institution QM
    •  Refinance Non-Standard into Standard QM
    •  Seasoned QM
    • Points and Fees Calculation
  • ATR & QM Sample Compliance Checklist
  • Appendix Q Procedure for General QM