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Originationmedium27% of exam

In a pricing desk question, a quality-control reviewer sees facts tied to TILA Ability to Repay. What should the file reflect?

Correct Answer

B) Obtain updated documentation before relying on the fact

Origination files need reliable documentation of income, assets, employment, debts, and changed facts. The best answer is "Obtain updated documentation before relying on the fact".

Answer Options
A
Treat unsigned disclosures as valid because the borrower saw them by email.
B
Obtain updated documentation before relying on the fact
C
Clear the condition based on a verbal statement that is not documented.
D
Keep conflicting file dates because the loan otherwise meets pricing requirements.

Why This Is the Correct Answer

Origination files need reliable documentation of income, assets, employment, debts, and changed facts. The best answer is "Obtain updated documentation before relying on the fact".

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