Financial institutions that issue mortgages must follow the ability-to-repay (ATR) rules laid out in the Dodd-Frank Act. Several changes were made to the final rule that directly impact different types of qualified mortgages (QMs).
BAI constantly monitors updates in the financial services industry to help our clients train their staff to make smart business decisions.
Mortgage lenders need to be aware of these new rules and how they affect each type of QM so they can properly issue mortgages for their customers. By reading our article: Optimizing your Underwriting Efficiencies, you will learn about the changes made to the specific mortgage types below that eliminate some steps in the review process, saving you time and money when processing these loans:
Download “Optimizing your Underwriting Efficiencies" today to learn how you can stay compliant with the Dodd-Frank Act regulations.