It has come to our attention that state banking departments are now requesting a policy statement from licensees regarding the rules pertaining to the Ability-to-Repay and Qualified Mortgage.

I have lectured and written extensively about these subjects. For instance, relevant articles I have published include those found HERE, HERE, and HERE.  

Inevitably, state banking departments have determined that a policy statement is required to affirm that the licensee has an understanding of Ability-to-Repay (ATR) requirements and is cognizant of the factors pertaining to the Qualified Mortgage (QM) rule.

We have undertaken to provide such a policy statement, which combines a comprehensive overview of both ATR and QM. The policy is available to you at no cost, as a courtesy. The document is forty-four pages and offers a means to prepare for a regulatory examination. 

If you would like to download it, please click below.