Before the team acts on a servicing handoff check, a licensing coordinator must address TILA Advertising Requirements. Which response is most defensible?
Correct Answer
A) Advertise only terms actually available
Mortgage advertisements must be truthful and include required APR or trigger-term disclosures. The best answer is "Advertise only terms actually available".
Why This Is the Correct Answer
Mortgage advertisements must be truthful and include required APR or trigger-term disclosures. The best answer is "Advertise only terms actually available".
More Federal Laws Questions
A mortgage team asks a branch supervisor about TILA APR and finance-charge rules during a renewal checklist. Which answer should guide the file?
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A disciplinary-risk review raises a question about TILA APR and finance-charge rules. Which action should the renewal specialist recommend?
Before the loan advances, a quality-control reviewer must resolve a ATR/QM repayment-ability rules issue in a supervisory file review. What should happen?
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During a company policy update, a policy analyst identifies an issue involving ATR/QM repayment-ability rules. Which response is most compliant?
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