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Before the file moves forward, Quinn must resolve an issue involving ATR/QM repayment-ability rules. What should happen?

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".

Answer Options
A
Verify ability to repay using reliable third-party records
B
Use an internal exception instead of the required federal disclosure or timing rule.
C
Wait until a regulator asks for the file before applying the federal requirement.
D
Rely on oral agreement when the rule requires documented compliance.

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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