ComplyIO
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      2. ComplyIO

      Basic ComplyIO troubleshooting

      Please see the below notes for loan file setup. There is also a PDF guide attached to this KB.

      CIO Training

      Please navigate to the Loan Additional > Compliance information section 

       

      Qualified Mortgage Section

      • The Qualified Mortgage drop-down must be the correct option
        • Agency QM - Government loan 
        • Certain Creditor Balloon payment QM will only apply to a small percentage of use cases. Check with your manager or compliance department regarding the loan scenario of the file.
        • General/Standard QM - Fannie/Freddie loans and Non-QM
        • Seasoned QM - This is not applicable as the CIO does not currently run for post-closing and servicing.
        • Small creditor portfolio QM—Your institution would have to be designated as a small creditor. Check with your system admin or internal compliance department to see if this is applicable. 
      • Please Choose the applicable presumption of compliance. 
      • Could you go ahead and go to Non-QM toggle if applicable? 

       

      Ability to Repay Section

      • Exempt—If exempt is chosen, another field will be available, and the exemption type must be chosen. (For investment loans, mark exempt, and the credit purpose exemption toggle should be on.)
      • General - when the loan is a Non-QM loan 
      • Qualified Mortgage - Conventional and Government loan scenarios.
      • To have discount points bonafide please toggle the BonaFide discount toggle in the Loan Additional> Compliance Information section > Ability to Repay section