[20200123]IF11413_合格抵押（QM）规则和QM补丁.pdf

https:/crsreports.congress.gov January 23, 2020The Qualified Mortgage (QM) Rule and the QM PatchBackground On January 30, 2013, the Consumer Financial Protection Bureau (CFPB) released a final rule implementing the ability-to-repay (ATR) requirement of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act; P.L. 111-203). For residential mortgage originations, the Dodd-Frank Act includes in the ATR requirement that lenders consider and verify with documentation eight underwriting criteria for the borrower: (1) current or reasonably expected income or assets; (2) current employment status; (3) monthly payments of principal and interest on the primary mortgage lien; (4) monthly payment on any junior mortgage lien; (5) monthly payment for mortgage-related obligations (e.g., property taxes, homeowner association fees); (6) any additional debt (e.g., automobile, credit card, education) obligations; (7) monthly debt-to-income ratio or residual income; and (8) credit history. The rule became effective on January 10, 2014. The final ATR rule provides multiple ways for a loan originator to comply, one of which is by originating a qualified mortgage (QM). A mortgage l