A borrower is presented with three loans: Loan A at 6.0% with $3,000 points, Loan B at 6.5% with $1,000 points, and Loan C at 7.0% with no points. Which loan represents the 'lowest points and fees' category?

For a construction-to-permanent loan, when must the initial Closing Disclosure be provided for the construction phase?

A title company provides an MLO with a detailed marketing analysis showing average days on market for properties in the MLO's territory. In exchange, the MLO agrees to refer at least 5 transactions per month. This arrangement is:

An appraiser discovers that a property has significant foundation issues that were not disclosed. The appraiser reduces the property value by $25,000 and includes detailed comments about the structural problems. The loan officer is upset because this will kill the deal. Under AIR, the loan officer:

A mortgage brokerage pays its MLOs a flat fee of $2,000 per closed loan, regardless of loan amount or terms. Additionally, the company pays a quarterly team bonus to all MLOs if the office meets certain customer satisfaction scores. Which statement is correct?

A borrower requests that all loan communications be sent only to their workplace address because they are in the process of divorce and don't want their spouse to see mortgage-related documents. How should the MLO handle this request?

An MLO receives a DU finding of 'Refer' with a message indicating 'Multiple Financed Properties.' The borrower owns two rental properties and is purchasing a primary residence. What does this DU message most likely indicate?

A borrower's loan application shows a debt-to-income ratio of 45%. What additional documentation requirement applies under the Ability-to-Repay rule?

An MLO provides pre-qualification based on a borrower's current employment but learns the borrower is starting a new job next month with a $10,000 salary increase. How should this information be handled?

A creditor offers the following loans to a qualified borrower: 30-year fixed at 6.5% with $2,500 points, 30-year fixed at 7.0% with $500 points, and 5/1 ARM at 6.0% with $1,000 points. If the borrower wants to avoid adjustable rate features, which loan should be presented as the lowest rate without risky features?

An MLO issues a pre-approval letter that states 'subject to satisfactory appraisal and final underwriting approval.' The borrower uses this letter to make an offer, but the appraisal comes in $15,000 below the purchase price. What is the lender's obligation?