Be on Top of Everything Related to QMs & Understand the New CFPB Regulations to Determine Borrower's Ability to Repay
Join this session, where expert speaker Kris D. Kully will provide up-to-date information on the regulations of the Consumer Financial Protection Bureau (CFPB), which require lenders to determine the borrower's ability to repay. While lenders have lived with these regulations, and the strict boundaries of qualified mortgages (QM), for months, there have been updates since they were issued.
There may be significant changes on the horizon! Join this session to ensure you're on top of everything related to "QM." This session will provide a summary of the ability to repay/qualified mortgage rule, and will discuss the updates to the requirements and possible changes on the horizon.
This session will discuss:
Compliance with the points-and-fees threshold—what's in and what's out?
What to do if you later learn that the loan exceeds the threshold?
How do you make loans guaranteed by the Department of Veterans Affairs comply with QM?
What special requirements or exemptions apply to small creditors?
What changes is Congress considering to QMs?
Do you have to make QMs?
What are the risks of making non-QMs?
Who should attend?
Mortgage lenders (including banks, savings associations, and other mortgage companies)
Sales, legal/compliance, and secondary market professionals
Providers of title services or insurance that are affiliated with lenders or brokers
Kris Kully is a partner in Mayer Brown's Washington DC office and a member of the Consumer Financial Services group. She advises clients on federal and state regulatory compliance matters affecting providers of consumer financial products and services, including licensing and substantive practic...
Disclaimer: The content herein does not represent any association between CFPB and Eli Financial LLC. CFPB neither endorses any product of Eli Financial LLC nor warrants accuracy of the content hereto.