Hoạt động cấp khoản vayCâu 283 / 400
After the borrower reviews the initial Closing Disclosure, the seller agrees to pay an additional closing cost credit at the table. How should this be handled?
a.Update the Closing Disclosure to reflect the seller credit before consummation
b.Leave the disclosure unchanged and record it later informally
c.Skip disclosing the credit since it helps the borrower
d.Cancel the closing entirely
Giải thích
Changes to the terms or costs, such as an added seller credit, must be reflected accurately on the Closing Disclosure so the figures match the actual transaction at consummation. Some changes require a corrected CD, but the transaction must be documented accurately, not left unchanged or undisclosed.
Luyện miễn phí toàn bộ 400 câu hỏi — không cần đăng ký.
Câu hỏi liên quan cùng chủ đề
- A lender orders a 'desktop' or 'hybrid' appraisal instead of a full appraisal on an eligible loan. What distinguishes these from a traditional appraisal?
- A borrower's assets include stocks in a brokerage account they plan to use for closing. How does an underwriter typically treat these funds?
- Between the Loan Estimate and Closing Disclosure, the recording fee (a zero-tolerance/limited-tolerance item) increases beyond the allowed tolerance. What must the lender generally do?
- A borrower assumes their monthly payment on a loan with an escrow account is fixed forever. Why might the escrow portion change over time?
- A borrower qualifies with a co-signer (non-occupant co-borrower). How does the co-borrower generally affect qualifying?
- A borrower is purchasing a home appraised at $300,000 with a sale price of $290,000 and wants a 90% loan. On what value is the maximum loan calculated, and what is it?
Cập nhật gần nhất: · quy trình kiểm tra
Đội Ngũ Biên Tập PrepPass · Đối chiếu với NMLS SAFE Mortgage Loan Originator National Test · Quy trình kiểm tra