Ability-To-Repay / Qualified Mortgage: Revisions – ON-DEMAND WEBINARS

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SKU: SWAQM Category:
Overview

Recorded: September 16, 2021
Presented by: Ms. Anetria Cohen, VP and Senior Consultant, FORVIS

A two-hour webinar on the Qualified Mortgage revisions under the Ability-to-Repay/Regulation Z Rule for mortgage loans.

Although underwriting is inherently a risk analysis by the institution subject to safety and soundness concerns, mortgage loans (closed-end consumer loans secured by a dwelling, where the term is greater than one year) are also subject to the Ability-to-Repay rules under Regulation Z, which implements the Truth-in-Lending Act. These rules establish compliance options, including “Qualified Mortgages,” that a creditor must use in order to show that it is making a good faith, reasonable determination that the consumer has the ability to repay.

The Consumer Financial Protection Bureau (CFPB) finalized revisions to the Qualified Mortgage rules in order to address the expiration of the Temporary GSE Qualified Mortgage. The final rules provide significant changes to the “General” Qualified Mortgage (and, related to this revision, the Temporary GSE Qualified Mortgage), as well as introduce a new qualified mortgage – the “Seasoned” QM. The CFPB also delayed the mandatory compliance date – what exactly does this mean?

This webinar will provide a quick review of the rule and then discuss in detail what these revisions change and the potential effect on your institution.

Understanding the rule’s obligations, including these revisions, is fundamental in establishing and understanding a creditor’s comprehensive underwriting program.

HERE IS WHAT YOU WILL LEARN:

  • Quick review of current ATR/QM Rules
  • Discussion of the revisions to:
    • “General” QM
    • Temporary GSE QM
  • Effect on other options
  • New “Seasoned” QM
  • Revised effective and compliance dates
Who Should Listen

This webinar will be of value to anyone involved in the underwriting process or charged with overseeing compliance with the Ability to Repay regulations and internal loan policies, including lending officers, compliance officers, loan administration, loan review and internal audit personnel.

Program Level: Basic

Prerequisite/Advanced Preparation: Basic Knowledge of Lending Regulations

Field of Study: Specialized Knowledge

Copyright Disclaimer

Any recording, transmission, retransmission, or republishing of any portion of this webinar is prohibited.