This course will explain the ability to repay rules for all Regulation Z closed-end mortgages, including the eight minimum underwriting factors and the special circumstances that qualify for transitioning nonstandard to standard mortgages. This course will describe the purpose and qualifications associated with the qualified mortgage rules.
After completing this course, students will be able to:
• Describe the ability to repay rules for all Regulation Z closed-end mortgages
• Explain the purpose and qualifications for the qualified mortgage rules