A risk reviewer compares the file facts with TRID Loan Estimate Timing during a new-hire scenario. Which conclusion is accurate?
Correct Answer
C) Collect only a bona fide credit-report fee before intent
TRID Loan Estimate duties begin when the application trigger is met. The best answer is "Collect only a bona fide credit-report fee before intent".
Why This Is the Correct Answer
TRID Loan Estimate duties begin when the application trigger is met. The best answer is "Collect only a bona fide credit-report fee before intent".
More Federal Laws Questions
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Previous Question
Before the loan advances, a quality-control reviewer must resolve a TILA advertising issue during a TILA advertising review. What should happen?
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During a new-license application, a quality-control reviewer identifies an issue involving ATR/QM repayment-ability rules. Which response is most compliant?