Course length: Approximately 35 minutes
Understand the basic requirements of the ability to repay and qualified mortgage rule. This course defines key terms, and explains Ability to Repay (ATR) and which third party documents are used to verify ATR. Additionally, the types of Qualified Mortgages (QMs) and the parameters of each will be addressed.
Course objectives include:
• Define key terms related to Ability to Repay and Qualified Mortgage rule
• Summarize the Ability to Repay (ATR)
• Identify third-party documents used to verify ATR
• Apply the Qualified Mortgage (QM) Rule
More detailed course information is available at: http://elliemae.com/education/courses/ability-to-repay-and-qualified-mortgage-rule
Last Updated 01/2018.
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