During a new-license application, a quality-control reviewer identifies an issue involving ATR/QM repayment-ability rules. Which response is most compliant?
Correct Answer
A) Verify ability to repay using reliable third-party records
ATR/QM rules require verified repayment ability and restrict risky QM features. The best answer is "Verify ability to repay using reliable third-party records".
Why This Is the Correct Answer
ATR/QM rules require verified repayment ability and restrict risky QM features. The best answer is "Verify ability to repay using reliable third-party records".
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