A customer-service escalation raises a TILA Advertising Requirements question for the loan team. What answer should guide the file?
Correct Answer
C) Use truthful advertising with required APR disclosures
Mortgage advertising must avoid misleading claims and satisfy APR/trigger-term rules. The best answer is "Use truthful advertising with required APR disclosures".
Why This Is the Correct Answer
Mortgage advertising must avoid misleading claims and satisfy APR/trigger-term rules. The best answer is "Use truthful advertising with required APR disclosures".
More Ethics & Fraud Questions
The loan team is resolving Privacy and Confidentiality during a quality-control sample. Which action best fits the rule?
Before the team acts on a branch training session, the loan team must address UDAAP Unfair Deceptive Practices. Which response is most defensible?
Before the loan advances, a sponsorship reviewer must resolve an predatory-lending controls issue in an NMLS filing review. What should happen?
A disclosure specialist compares the file facts with Fraud Detection and Reporting during a new-hire scenario. Which conclusion is accurate?
Before the team acts on a production meeting, the MLO must address professional conduct standard to Borrowers. Which response is most defensible?
A processor compares the file facts with Fraud Detection and Prevention during an underwriting condition review. Which conclusion is accurate?
A risk reviewer is resolving Fair Lending Ethics during a quality-control sample. Which action best fits the rule?
During intake, a title company offers a gift card for each borrower referral. What is the best compliant response?
A compliance review finds that a title company offers a gift card for each borrower referral. What should the MLO do next?
A processor asks how to handle a file where a title company offers a gift card for each borrower referral. Which response is most accurate?
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Previous Question
A branch manager asks about a loan file because a settlement provider asks to be paid for a task it did not actually perform. What should happen?
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A borrower-facing employee is unsure what to do when an ad shows an interest rate but omits the APR presentation. What is the correct response?