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QM – Revised Loan Eligibility for General Qualified Mortgages – FAQ’s – Fannie Mae

Description:

Loan Eligibility Under the Preferred Stock Purchase Agreement and Revised General Qualified Mortgage Rule:

Reminder: Determination of regulatory compliance

We will not make the determination of whether a loan complies with or is exempt from the Truth in Lending Act (TILA), Ability to Repay requirements (ATR), or the Revised General QM Rule (Revised QM), or whether a lender’s designation of the status of a loan under the Revised QM Rule is correct. These determinations of compliance with the Revised QM Rule and other applicable laws are the lender’s responsibility.

Document type:

  • Chart/Checklist

Agency:

Fannie Mae

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