Regulation Z: Ability to Repay and Qualified Mortgages

This Regulation Z: Ability to Repay and Qualified Mortgages online training course will provide an overview of each of the subparts within the Truth in Lending Act. The regulation encompasses several laws or acts and has been amended over and over, it requires creditors to disclose the terms and cost of consumer credit transactions along with a host of other things. 

The ATR/QM rule requires that you make a reasonable, good-faith determination before or when you consummate a mortgage loan, that the consumer has a reasonable ability to repay the loan.

During the years preceding the mortgage crisis, too many mortgages were made to consumers without regard to the consumers’ ability to repay the loans. In 2013 Congress adopted Ability-to-Repay (ATR) requirements for virtually all closed-end residential mortgage loans. Congress also established a presumption of compliance with the ATR requirements for a certain category of mortgages, called Qualified Mortgages (QMs). A creditor shall not make a loan that is a covered transaction unless the creditor makes a reasonable and good faith determination at or before consummation that the consumer will have a reasonable ability to repay the loan according to its terms.

Course Learning Objectives

By taking this online Regulation Z: Ability to Repay and Qualified Mortgages course, the user will learn to:

• Know what loans are covered by the ability to repay requirements
• Document the ability to repay on all covered loans
• Understand what loan types may receive a Qualified Mortgage status

Course Outline

This online Regulation Z: Ability to Repay and Qualified Mortgages course is made up of the following sections:

1. Covered Transactions
2. Ability to Repay
3. Qualified Mortgage

Course Audience

This Regulation Z: Ability to Repay and Qualified Mortgages online training course was designed for those individuals in the consumer lending arena, both real estate and non-real estate.

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