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BankersOnline.com Forums Dodd-Frank Final Rules Discussions Ability to Repay/Qualified Mortgage Rule Appendix Q & Fannie Mae
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#1848730 - 09/04/13 07:00 PM Appendix Q & Fannie Mae
Red Raiders Offline
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Red Raiders
Joined: May 2013
Posts: 1,069
Compliance Land
Just wanted to get some opinions on something....in January 2014 for a QM that is being sold to Fannie, do we have to comply with Appendix Q even though we run the loan through Fannie's AUS, get their approval, meet their conditions, etc? OR...since the loan is eligible for purchase by Fannie we don't have to meet Appendix Q?
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Ability to Repay/Qualified Mortgage Rule
#1848736 - 09/04/13 07:08 PM Re: Appendix Q & Fannie Mae Red Raiders
CrookedVulture Offline
100 Club
Joined: Jul 2008
Posts: 148
Originally Posted By: raidersn2000
Just wanted to get some opinions on something....in January 2014 for a QM that is being sold to Fannie, do we have to comply with Appendix Q even though we run the loan through Fannie's AUS, get their approval, meet their conditions, etc? OR...since the loan is eligible for purchase by Fannie we don't have to meet Appendix Q?


Correct. You don't need to meet the requirements of Appendix Q for a loan being sold to Fannie.

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