Basic ComplyIO troubleshooting

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

CIO will run off the of the Fee Type NOT the name of the fee.
Using the fee type of "other" is not recommended as it will be included in CIO's report
To streamline the process LenderFBO designation is recommended for default fees such as USDA guarantee fee. This can be set as default in the Settings > Fee and escrow type > Paid To settings.
Loan level - Paid to third party and LenderFBO will be removed from any fee test thresholds.

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