A loan-originator transfer raises a question about advertising and consumer-protection controls. Which action should the compliance manager recommend?
Correct Answer
B) Use corrected Closing Disclosure rules after the CD is provided
changed circumstances can permit revised estimates only when Regulation Z conditions and timing are met. 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 "Use corrected Closing Disclosure rules after the CD is provided".
Why This Is the Correct Answer
changed circumstances can permit revised estimates only when Regulation Z conditions and timing are met. 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 "Use corrected Closing Disclosure rules after the CD is provided".
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During a regulator exam preparation, a training manager identifies an issue involving advertising and consumer-protection controls. Which response is most compliant?