During a post-application update, the file reviewer encounters a TILA Ability to Repay issue. Which response should select the answer that fits the governing requirement?
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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