Morgan notices a compliance issue tied to TILA RESPA Loan Estimate Tolerances. What is the best next step?
Correct Answer
D) Place the fee in the correct tolerance category
TRID fee disclosures and tolerance categories govern estimates, revisions, and closing-cost comparison. The best answer is "Place the fee in the correct tolerance category".
Why This Is the Correct Answer
TRID fee disclosures and tolerance categories govern estimates, revisions, and closing-cost comparison. The best answer is "Place the fee in the correct tolerance category".
More Origination Questions
A branch manager asks about a loan file because a processor wants to omit known monthly obligations from underwriting. What should happen?
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Previous Question
Before closing, the team discovers that a processor wants to omit known monthly obligations from underwriting. What is the safest compliant answer?
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A quality-control reviewer flags a case because a cost changes after the Closing Disclosure has already been provided. What correction is appropriate?