Free CRCM Exam Braindumps (page: 27)

Page 27 of 344

Below mentioned is the necessary information that should be included in the _.
Risk of payment shock--potential payment increases; how the new payment will be calculated when the introductory rate expires
Ramifications of prepayment penalties--how they will be calculated, when they will be imposed
Ramifications of balloon payments
Ramifications of the lack of escrowing for taxes and insurance--who is responsible for paying taxes and insurance and the fact that their costs may be substantial Cost of reduced documentation loans--whether there is a pricing premium required

  1. Consumer protection principles
  2. Underwriting standards
  3. Workout arrangements
  4. None of these

Answer(s): A



Below mentioned is the necessary information that should be included in the _.
Risk of payment shock--potential payment increases; how the new payment will be calculated when the introductory rate expires
Ramifications of prepayment penalties--how they will be calculated, when they will be imposed
Ramifications of balloon payments
Ramifications of the lack of escrowing for taxes and insurance--who is responsible for paying taxes and insurance and the fact that their costs may be substantial Cost of reduced documentation loans--whether there is a pricing premium required

  1. Consumer protection principles
  2. Underwriting standards
  3. Workout arrangements
  4. None of these

Answer(s): A



Below mentioned is the necessary information that should be included in the _.
Risk of payment shock--potential payment increases; how the new payment will be calculated when the introductory rate expires
Ramifications of prepayment penalties--how they will be calculated, when they will be imposed
Ramifications of balloon payments
Ramifications of the lack of escrowing for taxes and insurance--who is responsible for paying taxes and insurance and the fact that their costs may be substantial Cost of reduced documentation loans--whether there is a pricing premium required

  1. Consumer protection principles
  2. Underwriting standards
  3. Workout arrangements
  4. None of these

Answer(s): A



Supervisory review should also be the part of Subprime Mortgage Lending. It should review:

  1. Regulatory agencies will continue to focus on risk management review and consumer compliance processes
  2. Hiring and Training of personnel
  3. Agencies will continue to take action against institutions that violate consumer protection laws or fair lending laws or that engages in unfair or deceptive acts or practices or in unsafe or unsound lending practices
  4. Applicability of prepayment penalties

Answer(s): A,C



Page 27 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
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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
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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
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