To Be Considered a Qualified Mortgage, the Loan Must Have

To be considered a qualified mortgage, the loan must have specific features and meet designated underwriting requirements. Based on your understanding of what constitutes a qualified mortgage, all of the following features describe a qualified mortgage EXCEPT:

A) The loan cannot exceed 30 years in maturity
B) The loan cannot have fees in excess of three percent (if the loan is greater than $100,000)
C) The loan cannot have a debt-to-income ratio greater than 43 percent
D) The loan does not require verification of underwriting information from third party records