Luật vay thế chấp liên bangCâu 60 / 400
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:
a.The loan with the highest available loan amount
b.The loan with the lowest interest rate without risky features such as prepayment penalties or negative amortization
c.The loan the originator personally recommends
d.The loan with the shortest term
Giải thích
The safe harbor requires presenting, for each loan type the consumer expresses interest in, the loan with the lowest interest rate, the loan with the lowest rate that lacks risky features (e.g., negative amortization, balloon, prepayment penalty), and the loan with the lowest total dollar amount of origination points and fees. Meeting these presentation requirements protects the originator from steering claims.
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
- 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:
- Under Reg Z, which arrangement for changing a loan originator's compensation is generally permitted?
- 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?
- Which loan feature is generally NOT permitted in a Qualified Mortgage?
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