A team member asks about ATR QM Verification Requirements in an investor-delivery review while trying to match the file facts to the correct rule. Which response should the branch manager use?
Correct Answer
B) 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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