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INVESTORALTQM UNDERWRITING GUIDELINES 09/14/20231|P a g e Change Home Mortgage Investor 09/14/2023TABLE OF CONTENTS Overview ........................................................................................................................................................................5
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What is alt-qm?
Alt-qm refers to an alternative qualified mortgage, which is a type of loan that meets certain criteria set by the Consumer Financial Protection Bureau (CFPB) to ensure that borrowers can repay their loans.
Who is required to file alt-qm?
Lenders that issue alternative qualified mortgages and are subject to certain regulatory requirements are required to file alt-qm.
How to fill out alt-qm?
To fill out alt-qm, lenders must complete the specific forms detailing the loan, including borrower information, loan terms, and compliance with the qualified mortgage criteria.
What is the purpose of alt-qm?
The purpose of alt-qm is to provide a framework for loans that do not meet the traditional qualified mortgage standards while still ensuring borrower protection and responsible lending practices.
What information must be reported on alt-qm?
Information that must be reported on alt-qm includes borrower details, loan amounts, interest rates, loan origination dates, and compliance with the alternative qualified mortgage criteria.
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