Correspondent Lending QM Compliance Rules—March 16, 2021

AIG Correspondent Lending will continue to follow the CFPB’s original Qualified Mortgage(QM) Compliance policy which determines whether a loan meets the designation of Qualified Mortgage by adhering to both maximum Debt-to-Income restrictions and the strict adherence to a Borrower’s Ability-to-Repay their Mortgage Loan. At this time, we will not purchase loans using the newly proposed pricing model to determine whether a loan carries a Qualified Mortgage designation. We look forward to additional feedback from the CFPB related to this matter and until such time that additional information is provided, we will continue with our current guidance on this matter.

Please follow the AIG Correspondent Lending Jumbo Underwriting Guidelines and the Conforming Underwriting Guidelines to determine whether a loan meets our requirements.

Please contact Shane Larscheid, Vice President of Sales with any questions related to this announcement.

Thank you.