A team member asks about Pre qualification Duties in a consumer complaint triage while trying to confirm the rule-based response. Which response should a policy analyst use?
Correct Answer
B) Include known monthly obligations in DTI
Prequalification is preliminary and must be updated with verified debts, income, and application facts. The best answer is "Include known monthly obligations in DTI".
Why This Is the Correct Answer
Prequalification is preliminary and must be updated with verified debts, income, and application facts. The best answer is "Include known monthly obligations in DTI".
More Origination Questions
A disclosure specialist is resolving Income Calculation Methods during an internal audit sample. Which action best fits the rule?
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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?
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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?
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