Ability to Repay and Qualified Mortgage Rule
The Consumer Financial Protection Bureau adopted a rule that implements the Ability to Repay and Qualified Mortgage (“ATR/QM”) provisions of the Dodd-Frank Act. The effective date of the ATR/QM rul...
Net Tangible Benefit Requirement
Net Tangible Benefit Requirement for VA Interest Rate Reduction Refinance Loans (IRRRL). Pennymac’s intent and policy is that all loans provide a benefit to the borrower. Specific to VA...