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Free CRCM Exam Braindumps
CERTIFIED REGULATORY COMPLIANCE MANAGER (CRCM) Questions 99–101 (page: 61)

Updated On: 9-Feb-2026
Page 61 of 276
PDF with 463 Questions

The OCC recommends all but one of the following actions to help prevent a national bank's purchasing or acquiring predatory or abusive loans. Which practice is NOT recommended?

  1. Establish policies on the bank's relationship with third-party brokers and originators
  2. Review loan documentation
  3. Audit the third-party broker
  4. Require the broker to establish a reserve account for legal contingencies

Answer(s): D



Second State Bank offers a mortgage product that involves simultaneous second lien loans. These include a first lien for up to 90 percent of the purchase price and a second loan for the down payment, secured by a second lien on the property. The bank would like to be in full compliance with the Interagency Guidance on Nontraditional Mortgage Product Risks. Which of the following should Second State Bank incorporate into its loan program?

  1. Risk management procedures to measure the risk of all simultaneous second lien loans and report results to management
  2. A 100 percent loan loss reserve on all simultaneous second lien loans
  3. A product combining simultaneous second lien loans with negative amortization features made to nonowner occupied borrowers
  4. A prepayment penalty on all simultaneous second lien loans

Answer(s): A



Second State Bank offers a mortgage product that involves simultaneous second lien loans. These include a first lien for up to 90 percent of the purchase price and a second loan for the down payment, secured by a second lien on the property. The bank would like to be in full compliance with the Interagency Guidance on Nontraditional Mortgage Product Risks. Which of the following should Second State Bank incorporate into its loan program?

  1. Risk management procedures to measure the risk of all simultaneous second lien loans and report results to management
  2. A 100 percent loan loss reserve on all simultaneous second lien loans
  3. A product combining simultaneous second lien loans with negative amortization features made to nonowner occupied borrowers
  4. A prepayment penalty on all simultaneous second lien loans

Answer(s): A



Second State Bank offers a mortgage product that involves simultaneous second lien loans. These include a first lien for up to 90 percent of the purchase price and a second loan for the down payment, secured by a second lien on the property. The bank would like to be in full compliance with the Interagency Guidance on Nontraditional Mortgage Product Risks. Which of the following should Second State Bank incorporate into its loan program?

  1. Risk management procedures to measure the risk of all simultaneous second lien loans and report results to management
  2. A 100 percent loan loss reserve on all simultaneous second lien loans
  3. A product combining simultaneous second lien loans with negative amortization features made to nonowner occupied borrowers
  4. A prepayment penalty on all simultaneous second lien loans

Answer(s): A



According to the 2007 interagency statement on subprime mortgage lending, what should an institution offering mortgage loans to subprime borrowers provide before submission of an application?

  1. Information on local residential real property values
  2. Payment shock information
  3. Truth in Lending disclosures
  4. Initial escrow statements

Answer(s): B



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