Tag: points

CFBP – ATR and QM Thresholds Updated – Dated July 17, 2020

Written by: Lloyd Rutherford, Staff Writer Understanding what triggers a high-cost mortgage is important to anyone in the origination side of this business.  This article reviews the latest update for these thresholds. Rule Synopsis: The CFPB is required to calculate annually the dollar amounts for various topics contained in Regulation Z (aka The Federal Truth-in-Lending […]

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VA – Charging Points on a Streamline IRRRL

Question: Can you charge points without requiring a new appraisal on a VA Streamline IRRRL? VA Refinance Comparison – Chart Answer: The newest guidelines regarding points on IRRRLs were published in Circular 26-19-22. While VA has no prohibition on charging reasonable points, they do have rules regarding adding those points into the loan amount. See […]

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