Parker is training a new MLO on TRID Loan Estimate Timing. Which statement is accurate?
Correct Answer
A) Communicate accurate status without misleading the borrower
Borrower communication must be timely, accurate, and tied to disclosure or action-notice duties. The best answer is "Communicate accurate status without misleading the borrower".
Why This Is the Correct Answer
Borrower communication must be timely, accurate, and tied to disclosure or action-notice duties. The best answer is "Communicate accurate status without misleading the borrower".
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A policy analyst is training staff on automated underwriting systems using a disciplinary-risk review. Which statement is accurate?
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An MLO is reviewing procedures for a case where a cost changes after the Closing Disclosure has already been provided. What is the proper handling?