Skip to content
BOL Conferences
Thread Options
#2253489 - 05/05/21 04:12 PM Small Creditor QM Question
Luv2run Offline
Platinum Poster
Joined: Jan 2015
Posts: 610
With regard to the Small Creditor QM....a webinar I attended regarding the new versions of QM stated "nothing changed there". So, am I correct in thinking that the new APR threshold will not apply to our Small Creditor QM portfolio loans in the same manner that DTI did not have a threshold in the old QM world?

I am putting together training and adjusting language in policy, so I appreciate any feedback.
_________________________
If at first you do succeed....try something harder
-fortune cookie

Return to Top
Ability to Repay/Qualified Mortgage Rule
#2253513 - 05/05/21 07:03 PM Re: Small Creditor QM Question Luv2run
rlcarey Online
10K Club
rlcarey
Joined: Jul 2001
Posts: 83,227
Galveston, TX
There were some changes to 1026.43(e)(5), but there are no APR thresholds like there are on the revised General QM.
_________________________
The opinions expressed here should not be construed to be those of my employer: PPDocs.com

Return to Top
#2253564 - 05/06/21 03:45 PM Re: Small Creditor QM Question Luv2run
Luv2run Offline
Platinum Poster
Joined: Jan 2015
Posts: 610
Thank you.....I will look into the changes.
_________________________
If at first you do succeed....try something harder
-fortune cookie

Return to Top