FHA QM Safe Harbor- Points and Fees test

Posted By: Cheli

FHA QM Safe Harbor- Points and Fees test - 07/19/21 07:11 PM

Good afternoon-
I feel a little silly asking this question:
I am receiving a failed points and fees test for a FHA loan. The auditor is stating a specific fee (an origination fee) is causing the fail... Very new to the FHA world and the QM Safe Harbor rule. My question is, where do I look to see what is included in an FHA's points and fees test?

Thank you kindly in advance.
Posted By: rlcarey

Re: FHA QM Safe Harbor- Points and Fees test - 07/19/21 07:36 PM

FHA loans have the same point and fees test as 1026.43(e)(3) and a rebuttable presumption if the APR exceeds the APOR by no more than 2%.
Posted By: Cheli

Re: FHA QM Safe Harbor- Points and Fees test - 07/20/21 12:41 PM

Thank you, Randy. I appreciate your quick response.