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Free CRCM Exam Braindumps (page: 21)

Page 20 of 344
PDF with 463 Questions

Which of the following are recommended practices In Avoiding Predatory and Abusive Lending Practices in Brokered and Purchased Loans--AL-2003-3?

  1. Have written agreements with third-party brokers that specifically and clearly address the rights and responsibilities of each party. Written agreements should
    1. Ensure that no inappropriate compensation exists
    2. Provide for indemnification to the bank
    3. Enable banks to exit the arrangement through a termination procedure
    4. Provide for the bank's and the OCC's ability to access all records of the third party and to audit the third party's operations
  2. Verify that brokers and originators have established policies to ensure that loans will comply with all applicable laws
  3. Establish an effective management information system to monitor the performance of third-party brokers and originators
  4. All of the above

Answer(s): D



Below mentioned list shows the significant risks of .
Borrowers with cash-flow difficulties
Borrowers with no lower-cost credit alternatives Minimal analysis of borrower's ability to repay the loan Minimal review of borrower's credit history
Credit is usually unsecured

  1. Payday lending
  2. Loan flipping
  3. Equity stripping
  4. None of these

Answer(s): A



Below mentioned list shows the significant risks of .
Borrowers with cash-flow difficulties
Borrowers with no lower-cost credit alternatives Minimal analysis of borrower's ability to repay the loan Minimal review of borrower's credit history
Credit is usually unsecured

  1. Payday lending
  2. Loan flipping
  3. Equity stripping
  4. None of these

Answer(s): A



Below mentioned list shows the significant risks of .
Borrowers with cash-flow difficulties
Borrowers with no lower-cost credit alternatives Minimal analysis of borrower's ability to repay the loan Minimal review of borrower's credit history
Credit is usually unsecured

  1. Payday lending
  2. Loan flipping
  3. Equity stripping
  4. None of these

Answer(s): A






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