A team member asks about RESPA Settlement Services in an investor-delivery review while trying to choose the compliant next step. Which response should the file reviewer use?
Correct Answer
C) Use the written provider-list rule for shoppable services
Third-party settlement services must avoid referral fees and follow provider-list/tolerance rules. The best answer is "Use the written provider-list rule for shoppable services".
Why This Is the Correct Answer
Third-party settlement services must avoid referral fees and follow provider-list/tolerance rules. The best answer is "Use the written provider-list rule for shoppable services".
More Origination Questions
A disclosure specialist is resolving Income Calculation Methods during an internal audit sample. Which action best fits the rule?
In a closing-readiness check, a quality-control reviewer sees facts tied to Self Employed Income Calculation. What should the file reflect?
During a disclosure desk review, a policy analyst encounters an Income Calculation Self Employed issue. Which response should decide how the file should be documented?
During a training quiz scenario, the loan team encounters an Income Calculation issue. Which response should resolve the issue before the file moves forward?
A team member asks about Dodd Frank MLO Compensation in an investor-delivery review while trying to apply the requirement without relying on borrower preference. Which response should the loan team use?
A team member asks about Construction Loan Terms in a compliance desk review while trying to select the answer that fits the governing requirement. Which response should a disclosure specialist use?
During an advertising approval, a loan file reviewer identifies an issue involving sponsorship and employment status. Which response is most compliant?
A team member asks about Construction Loan Requirements in an investor-delivery review while trying to resolve the issue before the file moves forward. Which response should a licensing coordinator use?
During a disclosure desk review, a training manager encounters a Pre qualification vs Pre approval issue. Which response should decide how the file should be documented?
In a pricing desk question, the loan team sees facts tied to TRID Closing Disclosure Changes. What should the file reflect?
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