Morgan notices a compliance issue tied to anti steering and Dodd-Frank Anti-Steering. What is the best next step?
Correct Answer
A) Avoid risky features when the safe-harbor category requires it
anti-steering rules restrict steering consumers to loans that increase compensation without being in the consumer interest. 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 "Avoid risky features when the safe-harbor category requires it".
Why This Is the Correct Answer
anti-steering rules restrict steering consumers to loans that increase compensation without being in the consumer interest. 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 "Avoid risky features when the safe-harbor category requires it".
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In a mortgage origination file, a loan officer wants the appraiser to raise the value to make the deal work. Which action should be taken?
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