The question is whether a lender/creditor may approach seller credits in the same way when calculating the QM points and fees. More specifically, if the seller pays a particular charge or fee included in QM points and fees, will this payment by the seller cause the fee to be excluded from QM points and fees?

The construction phase is also exempt from the QM test. Therefore, you apply the QM test on the permanent loan portion. So, repayment ability is tested based on the terms of the permanent phase as are the fees and points limit (as defined-which basically excludes third party fees.

The ATR/QM Rule established the points and fees limits that a loan cannot exceed in order to satisfy the requirements for a qualified mortgage. Under current limits for 2018, a covered transaction is not a qualified mortgage unless the transaction’s points and fees do not exceed 3 percent of.

The calculation of all applicable points and fees are an aspect of determining whether a transaction is a qualified mortgage and therefore,

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The points and fees are less than or equal to 3% of the loan amount (for loan amounts. Like the CFPB rule, this rule limits the points and fees for a QM to three.

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The Points & Fees thresholds for determining QM status will increase in 2018 and cannot exceed the following: **The above thresholds apply to most types of QMs. However, if your institution originates "Special QMs" under any government programs (HUD, VA, etc.), you should check those specific program requirements.

Also, HUD’s Qualified Mortgage rule would require streamline refinances to meet the points and fees requirements and HUD requirements for fha streamline refinances. The most noteworthy change in underwriting FHA loan transactions that this QM rule will have is that HUD is adopting the CFPB’s cap of 3% on points and fees combined.

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