TRID (TILA-RESPA)

Question 1

A loan estimate does not need to be provided if the application is ___________ or __________ within ______ business days.

Answer 1

Denied, withdrawn, 3

Question 2

An application CAN be denied verbally (T/F)

Answer 2

True

Question 3

Fees disclosed on the Loan Estimate are binding for _______ days, during which time the borrower must sign and return the _______ to _________.

Answer 3

Intent, proceed

Question 4

Intent to proceed cannot be colllected until loan estimate has been received by the borrower; earliest would be the _________ day after mailing.

Answer 4

Fourth

Question 5

What is the 3 events in TRID lending?

Answer 5

1. TRID - Loan Estimate
2. TRID - Intent to Proceed
3. TRID - Closing Disclosure

Question 6

What are the 7 areas NMLS ID’s have to be listed?

Answer 6

1. Website
2. Business Cards
3. Email Signature
4. Loan Applications
5. Loan and Related Correspondence
6. Advertising Material
7. Promissory Notes and Deeds of Trust