Transcript of Ms. Kelly Cochran, the Assistant Director for Regulations at the CFPB, gives an overview of the ability to repay and Qualified Mortgage Final Rule, effective on January 10th of 2014.
CFPB video guidance to the 2013 Mortgage Servicing Rules.
- Introduction
- The Core Requirement: A Reasonable Determination of an Ability-to-Repay
- How to Demonstrate Compliance for Non-QMs: The Eight Factors
- The Qualified Mortgage Presumptions
- Establishing QM Status
- What Charges Count Toward the QM Points and Fees Cap?
- Understanding Supervisory Expectations Regarding Non-QM and QM Lending
- Building an Effective Compliance Management System for ATR/QM
- Synthesis, Review and Resources