Mortgage Loan Originator Safe Exam Prep | 100% Correct Answers | Verified | Latest 2024 Version

An application for a mortgage loan has been denied and, as required by Regulation B, an Adverse Action Notice has been delivered to the applicant. Which of the following is not included on the Adverse Action Notice? a. Disclosure of the applicant's credit score b. Statement of reasons for credit denial c. The right to dispute the credit denial d. Disclosure of use of information obtained from an outside source - The right to dispute the credit denial Under the Home Ownership Equity Protection act which loan would be identified as a highcost mortgage? a. A $20,000 loan with $1,000 in fees. b. A $95,000 loan with $6,175 in fees. c. A $200,000 loan with $8,000 in fees. d. A $300,000 loan with $9,000 in fees. - A $95,000 loan with $6,175 in fees. Which of the following in not considered a "prohibited bases" under Regulation B? a. Race b. Age c. Gender d. Religion - Gender