A branch supervisor asks Blair how to handle rate lock and TRID — ARM Disclosures. What should Blair recommend?
Correct Answer
D) Update rate-dependent terms after the lock
rate locks can require revised Loan Estimates and accurate interest-rate-dependent disclosures. This item uses an exam-style scenario; any file details in the stem are illustrative and the governing rule controls the compliant response. The best answer is "Update rate-dependent terms after the lock".
Why This Is the Correct Answer
rate locks can require revised Loan Estimates and accurate interest-rate-dependent disclosures. This item uses an exam-style scenario; any file details in the stem are illustrative and the governing rule controls the compliant response. The best answer is "Update rate-dependent terms after the lock".
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