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Free CRCM Exam Braindumps (page: 18)

Page 18 of 344
PDF with 463 Questions

The purpose of advisory letter in Avoiding Predatory and Abusive Lending Practices in Brokered and Purchased Loans- AL-2003-3 is to:

  1. Adopt sound credit underwriting policies
  2. Alert national banks to the risks they take if they make loans through brokers or purchase loans that contain or reflect abusive or predatory terms or practices
  3. Adopt policies that address the circumstances under which the bank would make loans that have features associated with abusive lending practices
  4. Make loans secured by the consumer's home but with high, up-front fees that are financed and secured by the home

Answer(s): B



The purpose of advisory letter in Avoiding Predatory and Abusive Lending Practices in Brokered and Purchased Loans- AL-2003-3 is to:

  1. Adopt sound credit underwriting policies
  2. Alert national banks to the risks they take if they make loans through brokers or purchase loans that contain or reflect abusive or predatory terms or practices
  3. Adopt policies that address the circumstances under which the bank would make loans that have features associated with abusive lending practices
  4. Make loans secured by the consumer's home but with high, up-front fees that are financed and secured by the home

Answer(s): B



The purpose of advisory letter in Avoiding Predatory and Abusive Lending Practices in Brokered and Purchased Loans- AL-2003-3 is to:

  1. Adopt sound credit underwriting policies
  2. Alert national banks to the risks they take if they make loans through brokers or purchase loans that contain or reflect abusive or predatory terms or practices
  3. Adopt policies that address the circumstances under which the bank would make loans that have features associated with abusive lending practices
  4. Make loans secured by the consumer's home but with high, up-front fees that are financed and secured by the home

Answer(s): B



Examples of unfair practices mentioned in guidelines against Predatory and Abusive Lending includes loan flipping and loan equity stripping. It is said that:

  1. Loan flipping may be unfair because it increases the chances of foreclosure by decreasing home equity and increasing debt burden
  2. Equity stripping is the practice of making loans secured by the consumer's home but with high, up-front fees that are financed and secured by the home
  3. Loan flipping is the practice of making loans secured by the consumer's home but with high, up-front fees that are financed and secured by the home
  4. Equity stripping may be unfair because it increases the chances of foreclosure by decreasing home equity and increasing debt burden

Answer(s): A,B



Page 18 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