Posted By: SallyGirl
QM Status - 05/25/22 07:52 PM
To confirm, jumbo loans held in portfolio are Non-QM?
Posted By: rlcarey
Re: QM Status - 05/25/22 07:54 PM
Why would that be?? There are no loan limits on a QM mortgage.
Posted By: SallyGirl
Re: QM Status - 05/25/22 08:01 PM
All meet ATR , so designation is General QM?
Posted By: rlcarey
Re: QM Status - 05/25/22 08:06 PM
Which General QM - the legacy one that sunsets this year or the new one? The new one is based on APOR spread, points and fees, no toxic features and a general ability to repay.
Posted By: rainman
Re: QM Status - 05/25/22 08:32 PM
That is the best short description of the new rule that I have heard!