*5. The QM/ATR rule requires which of the following?

An anti-steering disclosure be provided on non-traditional mortgages

Consideration of 8 underwriting factors in mortgage underwriting

The use of a Loan Estimate and Closing Disclosure

Consideration of specific aspects of a borrower's credit

All mortgage loans are originated to meet safe harbor guidelines

*6. Which of the following loan programs would not be permitted under the QM/ATR Rule?

Alternative Documentation - Less than 24 months of income verified

No Documentation - No income provided Alternative Documentation

Income derived from bank statement deposits Stated Income

Income is stated but not verified

All of the above

*7. Which of the following loan features would exclude a loan from being considered a qualified mortgage?

Interest rates and payments which can increase after closing

Negative amortization 40 year loan term Interest only option

Prepayment penalty

*8. Which of the following are underwriting standards implemented by the QM/ATR rule?

Payment amounts used in qualification are based on the maximum interest rate possible within the first 5 years of the loan term

Payment amounts used for qualification are based on the fully indexed rate

Maximum prepayment penalty amounts excluded from qualified assets

Exclusion of non-occupant co-borrower income to qualify

A back end debt to income ratio not to exceed 43%