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NAM Asset Qualification Program Underwriting Guidelines Guideline Overview Loans meeting the parameters outlined in these guidelines are consistent with the Dodd Frank Wall Street Reform and Consumer
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Gather all necessary financial information such as income, expenses, and debts.
02
Calculate the total monthly income and compare it to the total monthly expenses including any loan payments.
03
Include any additional sources of income that may be used to repay the loan.
04
Consider any potential changes in income or expenses that may affect the ability to repay the loan in the future.
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Who needs ability to repay and?

01
Lenders who want to assess the borrower's ability to repay a loan.
02
Individuals applying for a mortgage, personal loan, or any other type of credit.
03
Regulatory bodies that require lenders to determine the borrower's ability to repay before granting a loan.
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Ability to repay (ATR) is a term used in the financial industry to refer to a borrower's ability to make timely payments on a loan.
Lenders are required to file ability to repay (ATR) assessments when issuing residential mortgage loans.
Ability to repay (ATR) forms can be filled out by providing detailed information about the borrower's income, assets, debts, and other financial obligations.
The purpose of ability to repay (ATR) is to ensure that borrowers are not put into loans they cannot afford, thereby reducing the risk of default.
Information such as borrower's income, assets, debts, credit history, employment status, and monthly expenses must be reported on ability to repay (ATR) forms.
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