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Free CRCM Exam Braindumps (page: 25)

Page 25 of 344
PDF with 463 Questions

If the institution offers both full and reduced documentation loans and there is a pricing premium attached to the reduced documentation loan, the consumer should:

  1. Be alerted to this fact
  2. Not be alerted to this fact
  3. Provide consumers with a clear statement of the options available
  4. Not lead consumers with payment option ARMs to choose a non-amortizing or negatively amortizing payment

Answer(s): A



If the institution offers both full and reduced documentation loans and there is a pricing premium attached to the reduced documentation loan, the consumer should:

  1. Be alerted to this fact
  2. Not be alerted to this fact
  3. Provide consumers with a clear statement of the options available
  4. Not lead consumers with payment option ARMs to choose a non-amortizing or negatively amortizing payment

Answer(s): A



Institutions that offer nontraditional mortgage products should make sure they comply with the following, as applicable, EXCEPT:

  1. Truth in Lending Act
  2. FTC Act (i.e., Unfair and Deceptive Acts and Practices)
  3. RESTA
  4. State laws prohibiting deceptive trade practices

Answer(s): C



Institutions that offer nontraditional mortgage products should make sure they comply with the following, as applicable, EXCEPT:

  1. Truth in Lending Act
  2. FTC Act (i.e., Unfair and Deceptive Acts and Practices)
  3. RESTA
  4. State laws prohibiting deceptive trade practices

Answer(s): C



Page 25 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
upvote

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