How do you Manage ATR for HELOC Originations?
During a recent webinar discussing best practices for achieving QM/ATR compliance, we asked over 500 attendees how they manage ATR for HELOC originations, with the possibility to choose from three responses:
- No verification of income
- Verification of income for line amounts over a $-threshold
- Verification of income for all HELOC originations
87 percent of respondents said they verify income on all HELOC originations! (Lenders are only required to meet ATR compliance on fixed HE loans).
Want to hear more? Check out the webinar replay to hear Tammy Stacy, VP, Senior Manager of Regulation and Compliance at Equifax and Rosie Biundo, Senior Direct of Product Marketing for Equifax Mortgage Services, discuss best practices for QM/ATR compliance. You’ll also be able to get an idea of how you compare to others in the marketplace on a number of different poll questions similar to the one posed here.
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