In a pricing desk question, the MLO sees facts tied to TILA APR Finance Charge. What should the file reflect?
Correct Answer
D) Use the Regulation Z disclosure rule before closing
Regulation Z requires accurate APR, finance-charge, disclosure, and mortgage-credit practices. The best answer is "Use the Regulation Z disclosure rule before closing".
Why This Is the Correct Answer
Regulation Z requires accurate APR, finance-charge, disclosure, and mortgage-credit practices. The best answer is "Use the Regulation Z disclosure rule before closing".
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?
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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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