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Small Creditor QM only allowed in rural/underserved areas?

Answered by: 

Question: 
To be a Small Creditor QM, must the loan be made in a rural or under served area?
Answer: 

No. There is no constraint on the geographic location of a loan to meet the Small Creditor QM requirement. But there are many other qualifying requirements! Tune into the upcoming webinar “Hey HPML! What’s the Matter with QMATR, eh?” on August 5, 2020 to learn exactly what all of them are!

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Learn more about Rebekah Leonard’s webinar Hey HPML! What’s the Matter with QMATR, eh?

First published on 07/05/2020

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