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Free CRCM Exam Braindumps (page: 16)

Page 16 of 344
PDF with 463 Questions

is frequent refinancing that do not benefit the borrower. This practice can result in borrower injury from the fees imposed and from the fact that it decreases home equity and increases the consumer's debt burden, thus increasing the chance of foreclosure.

  1. Loan flipping
  2. Loan refinancing
  3. Securitization
  4. Subprime loans

Answer(s): A



is frequent refinancing that do not benefit the borrower. This practice can result in borrower injury from the fees imposed and from the fact that it decreases home equity and increases the consumer's debt burden, thus increasing the chance of foreclosure.

  1. Loan flipping
  2. Loan refinancing
  3. Securitization
  4. Subprime loans

Answer(s): A



Guidelines for National Banks to Guard against Predatory and Abusive Lending Practices--AL-2003-2 says that refusing to purchase the following types of loans can reduce the possibility of purchasing abusive mortgage loans EXCEPT:

  1. Loans in which the lender has not adequately determined the borrower's ability to repay the debt
  2. Loans subject to the Home Ownership and Equity Protection Act (HOEPA)
  3. Loans with points and fees in excess of 5 percent of the loan amount, except in cases where the higher amount was to prevent the loan from being unprofitable
  4. Loans in which a prepaid multiple-premium credit insurance policy was included in the amount financed

Answer(s): D



Guidelines for National Banks to Guard against Predatory and Abusive Lending Practices--AL-2003-2 says that refusing to purchase the following types of loans can reduce the possibility of purchasing abusive mortgage loans EXCEPT:

  1. Loans in which the lender has not adequately determined the borrower's ability to repay the debt
  2. Loans subject to the Home Ownership and Equity Protection Act (HOEPA)
  3. Loans with points and fees in excess of 5 percent of the loan amount, except in cases where the higher amount was to prevent the loan from being unprofitable
  4. Loans in which a prepaid multiple-premium credit insurance policy was included in the amount financed

Answer(s): D



Page 16 of 344



Post your Comments and Discuss Banking CRCM exam with other Community members:

LeAnne Hair commented on August 24, 2023
#229 in incorrect - all the customers require an annual review
UNITED STATES
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LeAnne Hair commented on August 24, 2023
#229 in incorrect - all the customers require an annual review
UNITED STATES
upvote

LeAnne Hair commented on August 24, 2023
I think question 204 has an incorrect solution. It should be D-Regulation E
UNITED STATES
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Igor commented on April 10, 2020
Guys, leave no stones unturned. Try to study every questions and anything other supplementary material you have. The exam is not easy. I just wrote mine and if it wss not for these questions I would have not have passed it.
BULGARIA
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Lori commented on July 20, 2017
I had a good result. Worth the money.
UNITED STATES
upvote

Chipps commented on July 20, 2017
Studying from this dump helped me understand the concept and what comes in the exam. But I only get about 80 to 85% of the questions not 100% as it is claimed. Well... still good enough to pass.
UNITED STATES
upvote