CFPB TOOLBOX

Small Creditor Qualified Mortgages

Presentation by the CFPB

December 6, 2013

Please let us help!

516-442-3456

Advertising Compliance

Affiliates Compliance

Anti-Money Laundering Testing

Applications: Fannie Seller-Servicer

Applications: Freddie Seller-Servicer

Applications: Ginnie Issuer

Applications: HUD/FHA Mortgagee

Audit and Due Diligence Reviews

Broker Approvals for Lender

Business Development

CFPB Examination Preparation

Channel Compliance: Correspondent

Channel Compliance: Retail

Channel Compliance: Wholesale

Compliance Audits

Compliance Management System

Correspondent Compliance

Credit Risk Management

Default Management Reviews

Due Diligence Reviews

Forensic Mortgage Services

HMDA/CRA and Fair Lending

HUD/FHA Examinations

IT & Information Security

Legal and Regulatory Compliance

Lenders Approvals for Investors

Licensing Compliance

Loan Analytics Audits

Loan Originator Compensation

Loss Mitigation Strategies

MERS Annual Audits

Mortgage Compliance

Platform Development

Policies and Procedures

Portfolio Purchase Audits

Portfolio Risk Management

Prefunding Fannie LQI Audits

Quality Control Audits

Regulatory and Sales Training

Repurchase Demand Reviews

Retail and Wholesale Compliance

Sarbanes-Oxley Compliance

Servicer Compliance

Servicer Quality Assurance

State Banking Examinations

Subservicer Compliance

Subservicer Monitoring

Training and Education

Vendor Management Compliance

New Update to our CFPB Toolbox:

Small Creditor Qualified Mortgages

- Slide Presentation -

The CFPB gave a webinar presentation on December 4, 2013 on the Ability-to-Repay (ATR) - Qualified Mortgage (QM) rule provisions.

The slides used by the CFPB in the webinar are now available.

The session addressed the following topics:

What types of QMs may all creditors originate?
What types of QMs may only be originated by small creditors?
What is a small creditor?
What are the flexibilities small creditors have in originating QMs?
What requirements must be met to originate small creditor QMs?
Can a small creditor make balloon mortgages and/or non-QM loans?

Please use our CFPB Toolbox as a facilitating resource, while in many cases still visiting the CFPB's website for more information.

Regards,

Jonathan Foxx

President & Managing Director

LIBRARY

CFPB TOOLBOX

LENDERS COMPLIANCE GROUP is the first full-service, mortgage risk management firm in the United States specializing exclusively in outsourced mortgage compliance and offering a full suite of services in residential mortgage banking for banks and non-banks.

This communication is sent to our valued clients and colleagues, who regularly receive our Mortgage Compliance Updates, Compliance Alerts, Commentaries, and related publications. These publications are free to subscribers. Information contained herein is not intended to be and is not a source of legal advice.