A loan team is about to close a file involving advertising compliance and Dodd-Frank ATR Rule. Which action should occur first?
Correct Answer
A) Disclose conditions tied to the advertised offer
mortgage advertising must avoid misleading claims and satisfy APR/trigger-term rules. 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 "Disclose conditions tied to the advertised offer".
Why This Is the Correct Answer
mortgage advertising must avoid misleading claims and satisfy APR/trigger-term rules. 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 "Disclose conditions tied to the advertised offer".
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