Origination ActivitiesQuestion 179 of 400
Which of the following is NOT one of the six pieces of information that constitute an application under TRID?
a.The consumer's Social Security number
b.The consumer's employer's address
c.An estimate of the value of the property
d.The loan amount sought
Explanation
The six pieces are name, income, SSN, property address, estimated property value, and loan amount sought. The employer's address is not among them. Collecting it may be part of processing, but it does not affect whether an application exists.
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Related questions on this topic
- Under TRID, a mortgage 'application' is legally triggered when the consumer submits which set of information?
- A loan officer receives the borrower's name, income, SSN, subject property address, an estimate of the property's value, and the requested loan amount on Monday. When does the three-business-day Loan Estimate clock begin?
- The creditor must deliver or place in the mail the Loan Estimate no later than how many business days after receiving the application?
- In addition to being provided within three business days of application, the Loan Estimate must be received by the consumer no later than how many business days before consummation?
- The consumer must receive the Closing Disclosure at least how long before consummation?
- For the Closing Disclosure's three-business-day waiting period, 'business day' is defined as:
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