MBA Education, the education division of the Mortgage Bankers Association (MBA), has released its Compliance Essentials Ability to Repay (ATR)/Qualified Mortgage (QM) Resource Guide.
According to the MBA, the manual explains the effects of the ATR/QM rule on the real estate finance industry and also how organizations should adjust and operationalize to comply with the new federal regulation.
The MBA says the resource guide includes the following:
– An understanding of what is required for all employees, including loan officers, processors and underwriters;
– A basis for training staff to be aware of the new demands to better support organizations and reduce their risk; and
– A description of how to operationalize the rule requirements in an organization's day-to-day business.
The MBA worked with the law firm Weiner Brodsky Kider PC to produce the guide.
