A loan team is about to close a file involving ATR/QM repayment-ability rules. Which action should occur first?
Correct Answer
C) Document income, debts, and simultaneous loans
ATR/QM rules require verified repayment ability and restrict risky QM features. The best answer is "Document income, debts, and simultaneous loans".
Why This Is the Correct Answer
ATR/QM rules require verified repayment ability and restrict risky QM features. The best answer is "Document income, debts, and simultaneous loans".
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