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A quality-control reviewer flags a case because a processor wants to omit known monthly obligations from underwriting. What correction is appropriate?

Correct Answer

D) Consider payment obligations, debts, income, and credit history

Lines 207-214; 12 CFR 1026.43(c)(2). ATR is a multi-factor repayment analysis that includes obligations, income, and credit history. Therefore, the correct response is "Consider payment obligations, debts, income, and credit history".

Answer Options
A
Exclude a known monthly liability because it was omitted from the initial application.
B
Resolve the Ability to repay underwriting factors issue with the HMDA reporting exception that does not fit the facts.
C
Treat disputed accounts as irrelevant without following program or investor requirements.
D
Consider payment obligations, debts, income, and credit history

Why This Is the Correct Answer

Lines 207-214; 12 CFR 1026.43(c)(2). ATR is a multi-factor repayment analysis that includes obligations, income, and credit history. Therefore, the correct response is "Consider payment obligations, debts, income, and credit history".

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