The Mortgage Bankers Association’s education department has launched a new course for housing professionals that focuses on the federal “Ability to Repay and Qualified Mortgage” rules.
Participants who pass the exam earn a certificate of completion demonstrating their knowledge of the so-called ATR/QM rule.
“The Consumer Financial Protection Bureau is stepping up pressure on mortgage originators, underwriters, processors, and closers to understand and comply with the new Ability to Repay and Qualified Mortgage rule,” said Jeff Schummer, vice president of education at MBA.
“It is of the utmost importance that your staff is trained, compliant and – mostly importantly – ready to operate in this new environment. Our ATR/QM web course is the most economical and accessible way to provide training on this massive new rule,”
Course price for MBA members is set at $119 per individual, with significant savings available on group sales.
The MBA’s Education’s Compliance page is here.