Issue:
Customer is reporting that a VA, FHA or USDA loan is failing QM due to points and fees.
Cause:
Currently in OB, the financed MIP / Funding Fee / G-fee is being used in the QM analysis. This was not an issue before the customer moved to the enhanced loan amount calculations, as we were not previously able to include the financed MI in the QM calculation.
Resolution:
Tech Case 188075 was opened to add the ability to removed the financed MI from the QM calculation. ***This was Implemented in the 7/13/19 release
Temporary action:
The customer can create a custom QM policy for Government products to allow locks on non-QM flagged loans.