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# What is the purpose of ATR/QM Exemption Reason?

While this data is not required by the CFPB and does not print on the Closing Disclosure, this data is required by the GSEs to be included with the transaction file if the transaction is exempt from Regulation Z Ability-to-Repay requirements.

Select Loan Program if the transaction is made pursuant to a program administered by a Housing Finance Agency or other community lending creditor that is exempt from the ability to repay requirements as defined in Regulation Z, Truth in Lending.

Select Property Usage if the transaction is considered to be an investment loan and exempt from the ability to repay requirements as defined in Regulation Z, (12 C.F.R. 1026.43(a)), Truth in Lending.