A closing coordinator compares the file facts with RESPA Section 8 Kickbacks during an underwriting condition review. Which conclusion is accurate?
Correct Answer
B) Apply the escrow-account rule before changing charges
RESPA prohibits kickbacks and regulates escrow, servicing, and settlement-service practices. The best answer is "Apply the escrow-account rule before changing charges".
Why This Is the Correct Answer
RESPA prohibits kickbacks and regulates escrow, servicing, and settlement-service practices. The best answer is "Apply the escrow-account rule before changing charges".
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Before the team acts on a supervisory file review, a processor must address TILA Higher Priced Mortgage Loans. Which response is most defensible?
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The loan team compares the file facts with Fair Housing Act during an underwriting condition review. Which conclusion is accurate?