Welcome to the documents section of our website. Below, you’ll find an ever-growing collection of documents relating to the federal government’s Ability-to-Repay (ATR) and Qualified Mortgage (QM) rule for lenders. If we missed any important documentation, please let us know by using the contact page.
Note: Most of these documents were prepared by the Consumer Financial Protection Bureau (CFPB) and can be found on their website: ConsumerFinance.gov.
HUD’s Proposed QM Definition for FHA Loans (PDF)
The Dodd-Frank Act required HUD to create its own definition of a Qualified Mortgage, which will be applied to FHA loans. They published a proposed definition on September 30, 2013. The link below shows where the proposal was added to the Federal Register.
Published: September 30, 2013
The Dodd-Frank Act required HUD to create its own definition of a Qualified Mortgage, which will be applied to FHA loans. They published a proposed definition on September 30, 2013. The link below shows where the proposal was added to the Federal Register.
Published: September 30, 2013
Comparison Chart: ATR & QM Requirements (PDF)
This document is meant for lenders but is useful for borrowers as well, or anyone who wants to understand the overlap between these rules. It compares the ATR requirements with those used for originating QM-compliant loans, in an easy-to-read chart format.
Published: August 14, 2013
This document is meant for lenders but is useful for borrowers as well, or anyone who wants to understand the overlap between these rules. It compares the ATR requirements with those used for originating QM-compliant loans, in an easy-to-read chart format.
Published: August 14, 2013
ATR & QM Compliance Guide for Lenders (PDF)
This document explains both the Ability-to-Repay and Qualified Mortgage rules in “a plain language and FAQ format which makes the content more accessible for a broad array of industry constituents, especially smaller businesses with limited legal and compliance staff.”
Published: August 14, 2013
This document explains both the Ability-to-Repay and Qualified Mortgage rules in “a plain language and FAQ format which makes the content more accessible for a broad array of industry constituents, especially smaller businesses with limited legal and compliance staff.”
Published: August 14, 2013
What the ATR / QM Rules Mean to Consumers (PDF)
This short, 6-page document offers a brief overview of the forthcoming rules, and what they mean for consumers who are shopping for a mortgage loan. It is written in plain English without a lot of esoteric industry jargon or technical details.
Published: January 10, 2013
This short, 6-page document offers a brief overview of the forthcoming rules, and what they mean for consumers who are shopping for a mortgage loan. It is written in plain English without a lot of esoteric industry jargon or technical details.
Published: January 10, 2013
CFPB Fact Sheet on the New Rules (PDF)
This is a must-read for anyone seeking to understand the Ability-to-Repay and Qualified Mortgage rules. This concise, 4-page document covers all of the key points. Think of this as a “highlights” overview. For more details, refer to the three documents listed below.
Published: January 10, 2013
This is a must-read for anyone seeking to understand the Ability-to-Repay and Qualified Mortgage rules. This concise, 4-page document covers all of the key points. Think of this as a “highlights” overview. For more details, refer to the three documents listed below.
Published: January 10, 2013
Summary of the Ability-to-Repay and Qualified Mortgage Rule (PDF)
This 7-pager offers some additional details on what can and cannot be considered a QM loan. It also covers the underwriting factors lenders must consider when reviewing applicants, in order to meet the Ability-to-Repay requirements.
Published: January 2013
This 7-pager offers some additional details on what can and cannot be considered a QM loan. It also covers the underwriting factors lenders must consider when reviewing applicants, in order to meet the Ability-to-Repay requirements.
Published: January 2013
Proposed Amendments to the Truth in Lending Act (PDF)
All of these new rules will be added to the Truth in Lending Act, a government regulation created in 1968. New regulations like these must first go through a proposal stage, before they can become law. This is the original proposal for the new lending rules.
Published: January 2013
All of these new rules will be added to the Truth in Lending Act, a government regulation created in 1968. New regulations like these must first go through a proposal stage, before they can become law. This is the original proposal for the new lending rules.
Published: January 2013
Final Rule, as Entered Into the Federal Register (PDF)
The Office of the Federal Register published the final rule on January 30, 2013. The length of this document is a bit overwhelming. But it does offer some excellent insight into how these rules came to be (including the various discussions, debates, etc.).
Published: January 30, 2013
The Office of the Federal Register published the final rule on January 30, 2013. The length of this document is a bit overwhelming. But it does offer some excellent insight into how these rules came to be (including the various discussions, debates, etc.).
Published: January 30, 2013
Did We Miss Any Documents? Leave a Comment Below
This website is provided as a public resource with very limited funding. You can help us improve the site by notifying us of any omissions or oversights. Do you know of any additional documents that are not listed above? If so, drop a comment below.
at 7:26 pm
I appreciate all the information I’ve seen regarding
the coming QM.
However, I have not seen any informatin as to “FORMS”. Will their be new Documents required? Will the current GFE, TIL, be revised or changed?
at 3:37 pm
Hi Neil.
I don’t expect the GFE will be revised, as it just underwent a complete overhaul a couple of years ago. But I could be wrong.
I am currently (like right this minute) developing a discussion forum for this website, where folks in the lending industry can post questions and discuss the forthcoming QM and QRM rules. I will email you when it is up and running. Thanks.