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Mortgage Knowledgeeasy20% of exam

Before the file moves forward, Jamie must resolve an issue involving escrow-account analysis and shortage treatment. What should happen?

Correct Answer

D) Check HPML escrow requirements when applicable

Escrow rules address taxes, insurance, cushion limits, statements, and HPML escrow duties. The best answer is "Check HPML escrow requirements when applicable".

Answer Options
A
Change the payment without reviewing escrow-account figures.
B
Use borrower preference instead of escrow-analysis requirements.
C
Wait for a regulator request before correcting the escrow treatment.
D
Check HPML escrow requirements when applicable

Why This Is the Correct Answer

Escrow rules address taxes, insurance, cushion limits, statements, and HPML escrow duties. The best answer is "Check HPML escrow requirements when applicable".

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