The provisions of the ATR/QM rule are quite extensive. The representatives from Crowe explained that the rule essentially requires a creditor to make a reasonable, “good-faith” determination that the consumer has a “reasonable” ability to repay (ATR) a loan. They further explained that the rule essentially applies to home mortgage loans and the full responsibility of repayment lies with the creditor. Joe explained the underwriting factors that an institution must consider as well as the record-keeping and documentation requirements. He also explained the legal protections that an institution should consider in the loan underwriting process in order to maintain compliance with the provisions of the rule. He further discussed important considerations that institutions should evaluate regarding non-qualified mortgage loans as well as the ATR special circumstances that may apply when refinancing from non-standard loans.

The 8 Pitfalls of Accounts Payable Automation was presented by Christopher Elmore, Director of Product Strategy from Avidxchange, at the afternoon mini-session. Chris presented expert insights into the successful implementation of an automated accounts payable system. He discussed the important factors to consider in the process of moving from a paper-based system to a fully automated accounts payable process. He gave practical guidelines and expert advice to assist those who may be considering an automated plan or to help improve an automated process that is already in place.

Members and guests enjoyed a relaxing cocktail hour following the mini-session which gave everyone the opportunity to exchange ideas while sipping their beverage of choice compliments of the Chapter. After enjoying a superb full course dinner, Members were feted to cheesecake and coffee followed by the evening presentation from Crowe Horwath.