A closing coordinator compares the file facts with TILA Advertising Requirements during a borrower follow-up call. Which conclusion is accurate?
Correct Answer
C) 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?
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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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