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Question 1 of 2
1. Question
A lender originates a Qualified Mortgage that is not considered a higher-priced loan. Years later, the borrower challenges the lender’s compliance with Ability-to-Repay requirements in court.
What legal protection applies if the court determines the loan was a Qualified Mortgage that was not higher-priced?
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Question 2 of 2
2. Question
A borrower receives a higher-priced Qualified Mortgage loan and later argues in court that the lender violated Ability-to-Repay requirements. The borrower claims that after paying mortgage obligations and other debts, insufficient residual income remained to cover living expenses.
Why might the borrower still be able to challenge the lender despite the loan being classified as a Qualified Mortgage?
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