Luật vay thế chấp liên bangCâu 59 / 400
Under Reg Z, which arrangement for changing a loan originator's compensation is generally permitted?
a.Reducing the originator's pay to cover a pricing concession the borrower requested
b.Increasing pay when the borrower accepts a higher interest rate
c.Paying more for adjustable-rate loans than fixed-rate loans
d.Paying compensation based on a fixed percentage of the loan amount
Giải thích
Compensation based on a fixed percentage of the loan amount is expressly permitted because the loan amount is not treated as a prohibited transaction term for this purpose. Tying pay to interest rate or loan type (ARM vs. fixed) is prohibited. Reducing an originator's own compensation to absorb a cost is only allowed in limited circumstances, not as a general practice.
Trích dẫn luật: Loan Originator Compensation Rule (Reg Z 1026.36)Luyện miễn phí toàn bộ 400 câu hỏi — không cần đăng ký.
Câu hỏi liên quan cùng chủ đề
- Under the Loan Originator Compensation Rule, a loan originator's compensation may NOT be based on which of the following?
- A loan originator is paid a commission by the borrower directly on a transaction. On that same transaction, the originator also wants to collect a commission from the lender. What does the LO Compensation Rule say about this?
- A loan originator has two loan products available for a qualified borrower. Product A pays the originator a higher commission but carries a higher rate; Product B is cheaper for the borrower. The originator directs the borrower to Product A to earn more. This practice is best described as:
- The anti-steering safe harbor under Reg Z is satisfied when the loan originator presents the consumer with loan options that include the loan with the lowest interest rate, the loan with the lowest total dollar amount for origination points/fees, and:
- The Ability-to-Repay rule requires a creditor to make a reasonable, good-faith determination of the consumer's ability to repay. Which of the following is NOT one of the underwriting factors the rule requires the creditor to consider and verify?
- For a Qualified Mortgage of $100,000 or more, the total points and fees generally may not exceed what percentage of the total loan amount?
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