Đạo đứcCâu 307 / 400
A loan officer directs a well-qualified borrower into a higher-rate loan solely because it pays the officer a larger commission. This prohibited practice is known as:
a.Table funding
b.Steering (for compensation)
c.Yield spread rebate to the borrower
d.Rate locking
Giải thích
Guiding a borrower into a loan that is not in their interest to increase the originator's pay is prohibited steering under the LO Comp Rule. Table funding is a funding mechanism, a rebate to the borrower reduces their costs rather than harming them, and rate locking simply fixes a rate for a period.
Trích dẫn luật: Loan Originator Compensation RuleLuyện miễn phí toàn bộ 400 câu hỏi — không cần đăng ký.
Câu hỏi liên quan cùng chủ đề
- Which agency has primary federal authority to enforce the prohibition on unfair, deceptive, or abusive acts or practices in consumer mortgage lending?
- A lender structures a product so consumers cannot reasonably protect their own interests and takes unreasonable advantage of their lack of understanding. This best fits which UDAAP category?
- Under the Loan Originator Compensation Rule, a loan originator's compensation on a closed-end mortgage may NOT be based on:
- On a single transaction, a loan originator generally may receive compensation from:
- The Mortgage Acts and Practices Advertising Rule (Regulation N) primarily prohibits:
- An ad promotes a '2.99% mortgage' in large print, but that rate is available to almost no one and is not honored when consumers apply. This is a classic example of:
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