BEGIN:VCALENDAR VERSION:2.0 METHOD:PUBLISH PRODID:-//Telerik Inc.//Sitefinity CMS 13.3//EN BEGIN:VTIMEZONE TZID:Central Standard Time BEGIN:STANDARD DTSTART:20231102T020000 RRULE:FREQ=YEARLY;BYDAY=1SU;BYHOUR=2;BYMINUTE=0;BYMONTH=11 TZNAME:Central Standard Time TZOFFSETFROM:-0500 TZOFFSETTO:-0600 END:STANDARD BEGIN:DAYLIGHT DTSTART:20230301T020000 RRULE:FREQ=YEARLY;BYDAY=2SU;BYHOUR=2;BYMINUTE=0;BYMONTH=3 TZNAME:Central Daylight Time TZOFFSETFROM:-0600 TZOFFSETTO:-0500 END:DAYLIGHT END:VTIMEZONE BEGIN:VEVENT DESCRIPTION:The clock is ticking down to the October 1\, 2022\, compliance deadline. Is your institution ready for the new QM loan rules? Do you know the seven ability-to-repay options? If you don&rsquo\;t have your arms ar ound the implementation steps and content of the final rules\, you&rsquo\; d better act fast!\nLearning Objectives\n\n Understand the newly issued QM final rules\n Determine which loans are affected by the ATR/QM rule s\n Define the qualified mortgage options and requirements for each\n Use best practices and tools in determining a consumer&rsquo\;s ability to repay\n Distinguish which institutions qualify as &ldquo\;small cred itors&rdquo\;\n\nThe QM rules have been on a rollercoaster the last two ye ars. Originally the CFPB released two final rules related to qualified mor tgage (QM) loans. The first was to replace the DTI requirements for genera l QM loans and the second was to create an entirely new category for quali fied mortgages &ndash\; seasoned QMs. On December 29\, 2020\, the CFPB pub lished the final rule in the Federal Register\, giving it an effective dat e of March 1\, 2021\; however\, the mandatory compliance date was July 1\, 2021. Then on April 30\, 2021\, the CFPB published a new notice in the Fe deral Register extending the mandatory compliance date for the General QM Rule to October 1\, 2022.\nThis session will dive into the final QM rules and provide best practices for how to prepare your policies\, procedures\, systems\, and staff for the changes. It will also review the seven abilit y-to-repay (ATR) options and provide guidance on implementing the new chan ges and how to strengthen your current ATR/QM compliance program. Don&rsqu o\;t miss this jam-packed session! \; DTEND:20220707T203000Z DTSTAMP:20240328T164711Z DTSTART:20220707T190000Z LOCATION: SEQUENCE:0 SUMMARY:Countdown to ATR/QM Changes Effective October 1\, 2022: Preparing P olicies & Processes UID:RFCALITEM638472232318263099 X-ALT-DESC;FMTTYPE=text/html:
The clock is ticking down to the October 1\ , 2022\, compliance deadline. Is your institution ready for the new QM loa n rules? Do you know the seven ability-to-repay options? If you don&rsquo\ ;t have your arms around the implementation steps and content of the final rules\, you&rsquo\;d better act fast!
\nLearning Objectives
\n\nThe QM rules have been on a rollercoaster t he last two years. Originally the CFPB released two final rules related to qualified mortgage (QM) loans. The first was to replace the DTI requireme nts for general QM loans and the second was to create an entirely new cate gory for qualified mortgages &ndash\; seasoned QMs. On December 29\, 2020\ , the CFPB published the final rule in the Federal Register\, giving it an effective date of March 1\, 2021\; however\, the mandatory compliance dat e was July 1\, 2021. Then on April 30\, 2021\, the CFPB published a new no tice in the Federal Register extending the mandatory compliance date for t he General QM Rule to October 1\, 2022.
\nThis session will dive int o the final QM rules and provide best practices for how to prepare your po licies\, procedures\, systems\, and staff for the changes. It will also re view the seven ability-to-repay (ATR) options and provide guidance on impl ementing the new changes and how to strengthen your current ATR/QM complia nce program. Don&rsquo\;t miss this jam-packed session! \;
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