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Description: This Back 2 Basics webinar will review the requirements of the Ability-to-Pay and Qualified Mortgage rules, how they may affect your bank’s mortgage lending, and how to comply with them. We will review the scope of the rule, General and Seasoned Qualified Mortgages, higher-priced covered transactions, the rules surrounding the calculation of repayment ability, requirements for refinancings, and special provisions for small creditors.
Key Takeaways:
· Determine how the ATR/QM rule applies to different products and different institutions
· Understand the essential components of the ATR/QM rule
· Know when safe harbors or presumptions of compliance apply
People Who Should Attend: Compliance officers and staff, lending officers and staff, managers, and bank audit personnel
Board of Directors, Executives, Insiders, loan staff, and universal bankers
Presenter:
Jessica Lamoreux, JD
Director of Education
Jessica Lamoreux, JD, works as Director of Education for Compliance Alliance. She first joined Compliance Alliance in 2023 as Associate Counsel. In addition to assisting members through the Compliance Hub Hotline, Jessica has also written a variety of articles, webinars, summaries, and newsletters.
Jessica graduated magna cum laude from Case Western Reserve University School of Law and also holds a Bachelor’s degree in Political Science from Kenyon College. She is licensed to practice in Ohio. She began in consumer financial services as the Compliance Attorney for a mid-size debt collection law firm and later as Associate Counsel for a consumer lender. More recently, Jessica was the Director of Risk & Compliance at an SaaS startup, where she advised on the design of software for managing the placement of defaulted receivables with third party collectors.