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CRU Exam 2 Questions And Accurate Answers
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CRU Exam 2 Questions And Accurate Answers 2024-2025Which law requires lenders to deliver a notice of risk-based pricing to consumers? -
Answer FCRA
Which agency has general enforcement authority of the SAFE Act at the federal level? -
Answer CFPB
If the borrower purchased the lot two years before applying for the construction
financing, the land should be reflected in the Details of Transaction on: - Answer Land
For many years, fraud mainly affected the origination side of mortgage lending. During
the economic downturn we started to see more fraud in the _______ function of mortgage
lending. - Answer Processing
Credit cleaning companies: - Answer Work with the borrower's creditors to come up
with a payment plan
The best way to identify potential fraud is to compare all other loan documents to the: -
Answer Application
A HOEPA-covered loan must provide the consumer with a disclosure that includes all of
the following, EXCEPT: - Answer A statement regarding prepayment penalties
What type of company is considered a clearing house for credit history information? -
Answer Consumer reporting agency
Select all that apply. Which of the following statements is/are correct with respect to the
calculation of the credit score for subsamples of consumers? - Answer - The scorecard
is based on the content of the credit agency file at the time the score is pulled
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