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Qualified Mortgages: Understand the New CFPB Regulations to Determine Borrowers Ability to Repay. (MLC852T)
Be on Top of Everything Related to QMs & Understand the New CFPB Regulations to Determine Borrower's Ability to Repay
The Consumer Financial Protection Bureau (CFPB) requires lenders to determine the borrower's ability to repay. The Ability to Repay/ Qualified Mortgage Rule has been historically applicable to higher priced mortgage loans but there have been updates since they were issued. To reasonably protect yourself from high defaults, it's important to understand this now!
This webinar by expert speaker Kris D. Kully will provide up-to-date information on the regulations of the CFPB requiring lenders to determine the borrower's ability to repay. While lenders have lived with these regulations, and the strict boundaries of Qualified Mortgages (QMs), for months, there have been updates since they were issued. And there may be significant changes on the horizon! This session offers detailed information on the several definitions of QMs. Join this session to ensure you're on top of everything related to Qualified Mortgages!
You will learn about which transactions are excluded from the ATR/QM Rule; what liabilities and penalties can be imposed following improper compliance with the rule; and what the general ATR requirements are. This informative session will cover topics such as summary of the Ability to Repay/Qualified Mortgage rule, updates to the requirements, and possible changes on the horizon.
Get a better understanding of the ATR/QM Rule and excluded transactions
Comprehend the several definitions of Qualified Mortgages
How to comply with the points-and-fees threshold - what's in and what's out? And if you later learn that the loan exceeds the threshold, what can you do about it?
How to make loans guaranteed by the Department of Veterans Affairs compliant with QM?
Special requirements or exemptions that 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?
The liabilities and penalties associated with the ATR/QM rule
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
*Single User Price. For multiple users please call 1-800-223-8720
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.