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Mortgage Knowledgemedium20% of exam

During quality control, Elliot finds a file issue involving processing and underwriting review. Which action is most appropriate?

Correct Answer

D) Verify the item with reliable documentation

Processing and underwriting verify title, collateral, income, assets, credit, and conditions before approval. The best answer is "Verify the item with reliable documentation".

Answer Options
A
Apply a different loan-program rule without checking the file facts.
B
Ignore product, occupancy, LTV, or eligibility limits because the borrower prefers the loan.
C
Use the same treatment for all mortgage products without comparing program requirements.
D
Verify the item with reliable documentation

Why This Is the Correct Answer

Processing and underwriting verify title, collateral, income, assets, credit, and conditions before approval. The best answer is "Verify the item with reliable documentation".

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