During a disclosure desk review, a risk reviewer encounters a TILA Advertisement Requirements issue. Which response should select the answer that fits the governing requirement?
Correct Answer
B) Advertise only terms actually available
Mortgage advertisements must be truthful and include required APR or trigger-term disclosures. The best answer is "Advertise only terms actually available".
Why This Is the Correct Answer
Mortgage advertisements must be truthful and include required APR or trigger-term disclosures. The best answer is "Advertise only terms actually available".
More Federal Laws Questions
A mortgage team asks a branch supervisor about TILA APR and finance-charge rules during a renewal checklist. Which answer should guide the file?
A mortgage file is paused during a risk-control review because of TILA QM DTI Calculation. Which answer should choose the most defensible file action?
A disciplinary-risk review raises a question about TILA APR and finance-charge rules. Which action should the renewal specialist recommend?
Before the loan advances, a quality-control reviewer must resolve a ATR/QM repayment-ability rules issue in a supervisory file review. What should happen?
A policy analyst is resolving Flood Disaster Protection Act during a quality-control sample. Which action best fits the rule?
A compliance exception review raises an ECOA Prohibited Basis question for a policy analyst. What answer should guide the file?
A consumer complaint response raises a question about GLBA privacy requirements. Which action should the state compliance officer recommend?
A company policy update raises a question about flood-insurance requirements. Which action should the state compliance officer recommend?
An operations lead is resolving HMDA Reporting Requirements during a quality-control sample. Which action best fits the rule?
During a company policy update, a policy analyst identifies an issue involving ATR/QM repayment-ability rules. Which response is most compliant?
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Before the team acts on a servicing handoff check, a policy analyst must address Flood Disaster Protection Act. Which response is most defensible?
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