Our system does a compliance check for at certain points in the loan. With the new ATR/QM rules that went into effect, the system will rate the loans based on the underwriting factors as General ATR or QM. Is there an actual difference since they both require the same underwriting criteria?

One has a safe harbor (QM) and the other only a rebuttable presumption of compliance (general ATR), if i recall correctly.

I believe you are correct, due to the difference in points and fees if I recall

QMs have two categories: You have safe harbor QMs, which cannot be challenged and higher-priced covered transactions which come with a rebuttable presumption of compliance that can be challenged.

If you are underwriting under ATR Standard then you have neither, which means the standard of proof in a lawsuit by a borrower is much lower.