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Ability-To-Repay Rule

“Under the general ATR standard, you must make a reasonable, good-faith determination before or when you consummate a covered mortgage loan that the consumer has a reasonable ability to repay the loan.”

Compliance VERIFY helps tracks down the information you need to fulfill your requirements. Make sure you have a more complete picture for Ability-To-Repay conditions before a loan decision is made.

At a minimum, creditors generally must consider eight underwriting factors:

  • Current or reasonably expected income or assets
  • Current employment status
  • Monthly payment on the covered transaction
  • Monthly payment on any simultaneous loan
  • Monthly payment for mortgage-related obligations
  • Current debt obligations, alimony, and child support
  • Monthly debt-to-income ratio or residual income
  • Credit history


 Solve your ATR Obligations with...


ComplianceVerify
Compliance VERIFY helps tracks down the information you need to fulfill your requirements. Make sure you have a more complete picture for Ability-To-Repay conditions before a loan decision is made.