A team member asks about ATR QM Tangible Net Benefit in a compliance desk review while trying to confirm the rule-based response. Which response should a risk reviewer use?
Correct Answer
D) Compare costs, term, payment, and risk features
Refinance recommendations should be evaluated for borrower benefit, repayment ability, and steering risk. The best answer is "Compare costs, term, payment, and risk features".
Why This Is the Correct Answer
Refinance recommendations should be evaluated for borrower benefit, repayment ability, and steering risk. The best answer is "Compare costs, term, payment, and risk features".
More Origination Questions
A disclosure specialist is resolving Income Calculation Methods during an internal audit sample. Which action best fits the rule?
In a closing-readiness check, a quality-control reviewer sees facts tied to Self Employed Income Calculation. What should the file reflect?
During a disclosure desk review, a policy analyst encounters an Income Calculation Self Employed issue. Which response should decide how the file should be documented?
During a training quiz scenario, the loan team encounters an Income Calculation issue. Which response should resolve the issue before the file moves forward?
A team member asks about Dodd Frank MLO Compensation in an investor-delivery review while trying to apply the requirement without relying on borrower preference. Which response should the loan team use?
A team member asks about Construction Loan Terms in a compliance desk review while trying to select the answer that fits the governing requirement. Which response should a disclosure specialist use?
During an advertising approval, a loan file reviewer identifies an issue involving sponsorship and employment status. Which response is most compliant?
A team member asks about Construction Loan Requirements in an investor-delivery review while trying to resolve the issue before the file moves forward. Which response should a licensing coordinator use?
During a disclosure desk review, a training manager encounters a Pre qualification vs Pre approval issue. Which response should decide how the file should be documented?
In a pricing desk question, the loan team sees facts tied to TRID Closing Disclosure Changes. What should the file reflect?
People Also Study
Federal Mortgage-Related Laws
24% of exam
General Mortgage Knowledge
20% of exam
Ethics, Fraud & Consumer Protection
18% of exam
Uniform State Test Content
11% of exam