A licensing coordinator is reviewing a mortgage file during a new-license application. Which statement correctly handles ATR/QM repayment-ability rules?
Correct Answer
D) 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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