During a mortgage operations checklist, a sponsorship reviewer identifies an issue involving points and fee calculations. Which response is most compliant?
Correct Answer
A) Use points-and-fees totals before classifying the loan
Points and fees can affect APR, HOEPA, QM, and borrower cost calculations. The best answer is "Use points-and-fees totals before classifying the loan".
Why This Is the Correct Answer
Points and fees can affect APR, HOEPA, QM, and borrower cost calculations. The best answer is "Use points-and-fees totals before classifying the loan".
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