A remote-work procedure raises a question about advertising and consumer-protection controls. Which action should the branch supervisor recommend?
Correct Answer
D) Verify repayment ability for the new loan
refinance recommendations should be evaluated for borrower benefit, repayment ability, and steering risk. This item uses an exam-style scenario; any file details in the stem are illustrative and the governing rule controls the compliant response. The best answer is "Verify repayment ability for the new loan".
Why This Is the Correct Answer
refinance recommendations should be evaluated for borrower benefit, repayment ability, and steering risk. This item uses an exam-style scenario; any file details in the stem are illustrative and the governing rule controls the compliant response. The best answer is "Verify repayment ability for the new loan".
More Origination Questions
In a mortgage origination file, a processor wants to omit known monthly obligations from underwriting. Which action should be taken?
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Avery is reviewing a mortgage file involving changed circumstances and TILA — TRID Loan Estimates. Which response best follows the governing rule?
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