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Question 1 of 5
1. Question
A lender pulls a borrower’s credit report before getting anything signed. Which rule is being violated?
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Question 2 of 5
2. Question
A loan officer takes a verbal application over the phone and orders credit. What compliance action is now required?
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Question 3 of 5
3. Question
A borrower does not mention their late payments. Can the lender still discuss derogatory items shown on the credit report with the borrower?
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Question 4 of 5
4. Question
Is there any legal restriction against a lender giving the borrower a copy of their credit report?
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Question 5 of 5
5. Question
A loan file is transferred from Lender A to Lender B. Which document cannot be transferred as the original and must be re-obtained by the receiving lender?
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