Cru Exam 2 2024/2025 Already Graded A+

A HOEPA-covered loan must provide the consumer with a disclosure that includes all of the following, EXCEPT: {Ans: A statement regarding prepayment penalties}One of the requirements of the Ability-to-Repay provision of the Dodd-Frank Act is that lenders cannot base their lending decision solely on the: {Ans: Equity in the property}Which law requires lenders to provide a notice of risk-based pricing to consumers? {Ans: FCRA}Which law created greater regulatory oversight through the creation of the Consumer Financial Protection Bureau (CFPB)? {Ans: Dodd-Frank Act}On construction-to-permanent loans, change orders (COs) should be reviewed in which order? {Ans: Chronological order}Which is the preferred approach for deriving property value when appraising two- to four- unit properties? {Ans: Income}