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#2259628 - 09/13/21 04:58 PM ATP
Skbanker Offline
Member
Joined: Nov 2008
Posts: 56
Am I the only one that is confused about this? So beginning July of 2021 they removed the Appendix Q right? Do we still have to do the debt to income ratio qualifying of 43% or do we just have to make a reasonable and good faith determination at or before consumption that the consumer will have a reasonable ability to repay the loan according to the terms?

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Ability to Repay/Qualified Mortgage Rule
#2259631 - 09/13/21 05:27 PM Re: ATP Skbanker
rlcarey Offline
10K Club
rlcarey
Joined: Jul 2001
Posts: 77,215
Galveston, TX
If you are underwriting to the legacy General QM, then Appendix Q could still apply until October 1 2022 when that QM option sunsets.

Other than that, the 43% DTI limitation is dead. It reverts to reasonable ability.
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