Countdown to ATR/QM Changes Effective October 1, 2022: Preparing Policies & Processes

Compliance Lending

On-Demand Webinar

StreamedJul 7, 2022Duration90 minutes

Unlimited & shareable access starting two business days after live stream
Available on desktop, mobile & tablet devices 24/7
Take-away toolkit
Ability to download webinar video
Presenter's contact info for questions

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The clock is ticking down to the October 1, 2022, compliance deadline.

Is your institution ready for the new QM loan rules? Do you know the seven ability-to-repay options? If you don’t have your arms around the implementation steps and content of the final rules, you’d better act fast!

AFTER THIS WEBINAR YOU’LL BE ABLE TO:

Understand the newly issued QM final rules
Determine which loans are affected by the ATR/QM rules
Define the qualified mortgage options and requirements for each
Use best practices and tools in determining a consumer’s ability to repay
Distinguish which institutions qualify as “small creditors”

WEBINAR DETAILS

The QM rules have been on a rollercoaster the last two years. Originally the CFPB released two final rules related to qualified mortgage (QM) loans. The first was to replace the DTI requirements for general QM loans and the second was to create an entirely new category for qualified mortgages – seasoned QMs. On December 29, 2020, the CFPB published the final rule in the Federal Register, giving it an effective date of March 1, 2021; however, the mandatory compliance date was July 1, 2021. Then on April 30, 2021, the CFPB published a new notice in the Federal Register extending the mandatory compliance date for the General QM Rule to October 1, 2022.

This session will dive into the final QM rules and provide best practices for how to prepare your policies, procedures, systems, and staff for the changes. It will also review the seven ability-to-repay (ATR) options and provide guidance on implementing the new changes and how to strengthen your current ATR/QM compliance program. Don’t miss this jam-packed session!

WHO SHOULD ATTEND?

This informative session would best suit loan officers, loan operations personnel, compliance officers, and internal auditors.

TAKE-AWAY TOOLKIT

Sample policy language
Sample ATR worksheet
Employee training log
Interactive quiz
PDF of slides and speaker’s contact info for follow-up questions
Attendance certificate provided to self-report CE credits

NOTE: All materials are subject to copyright. Transmission, retransmission, or republishing of any webinar to other institutions or those not employed by your agency is prohibited. Print materials may be copied for eligible participants only.

TESTIMONIALS

"Speaker was knowledgeable and easy to understand."

-Commercial Bank

"I felt the Webinar completely and fully covered the new changes. They were easy to understand and the quiz at the end enlightened as to what you actually learned."

- Frances, Federal Home Loan Bank of Des Moines