Prove or Disprove Lender Failure to Meet the CFPB's New QM/ATR Rules
Lenders who fail to properly assess borrowers' ability to repay loans may face penalties, damages, lawsuits and the ability-to-repay defense to foreclosure actions. How well do you understand the nuances of the ATR provision? In this focused program, our experienced faculty will delve deeply into the Ability-to-Repay rule and challenges by borrowers so you can spot risky lending practices and know what is required to prove or disprove lenders' failure to comply. Register today!
- Understand which loans are and are not subject to the requirements of the ATR rule.
- Examine what is required to establish that lenders made a reasonable and good faith determination of borrowers' ability to repay.
- Develop a case strategy: learn how to successfully prove or disprove lender failure to meet ATR requirements.
- Apply the latest case law and developments to your practice.
Session Time: 2:00 PM - 3:30 PM Eastern
Presenters: J.P. McGuire Boyd Jr. and Camden R. Webb
- Determining Which Mortgages Rebuttable Presumptions Applies to
- The Ability to Repay Rule (ATR) and the Eight Part Test
- The Five Elements of a Qualified Mortgage (QM)
- Qualified Mortgages (QMs) Key QM Safe Harbors to Understand
- Higher-Priced Qualified Mortgages (HPQMs)
- Conclusive Presumptions for QMs
- The Rebuttable Presumption for HPQMs: Putting it Into Practice
- Key Elements of the Rebuttable Presumption
- Proving or Disproving Lender Failure to Meet ATR Rule
- Key Challenges for Borrowers
- The Rebuttable Presumption for Non-QM Loans
- How Lenders Can Rebut the Presumption
- Spotting Key Features That Prove Borrowers Can't Repay
- Essential Legal Updates
This program is designed for attorneys. Bankers/lenders and paralegals may also benefit.