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Banking CRCM Exam (page: 13)
Banking CERTIFIED REGULATORY COMPLIANCE MANAGER (CRCM)
Updated on: 01-Aug-2025

Viewing Page 13 of 276
CRCM PDF 463 Questions

is frequent refinancing that do not benefit the borrower. This practice can result in borrower injury from the fees imposed and from the fact that it decreases home equity and increases the consumer's debt burden, thus increasing the chance of foreclosure.

  1. Loan flipping
  2. Loan refinancing
  3. Securitization
  4. Subprime loans

Answer(s): A



is frequent refinancing that do not benefit the borrower. This practice can result in borrower injury from the fees imposed and from the fact that it decreases home equity and increases the consumer's debt burden, thus increasing the chance of foreclosure.

  1. Loan flipping
  2. Loan refinancing
  3. Securitization
  4. Subprime loans

Answer(s): A



Guidelines for National Banks to Guard against Predatory and Abusive Lending Practices--AL-2003-2 says that refusing to purchase the following types of loans can reduce the possibility of purchasing abusive mortgage loans EXCEPT:

  1. Loans in which the lender has not adequately determined the borrower's ability to repay the debt
  2. Loans subject to the Home Ownership and Equity Protection Act (HOEPA)
  3. Loans with points and fees in excess of 5 percent of the loan amount, except in cases where the higher amount was to prevent the loan from being unprofitable
  4. Loans in which a prepaid multiple-premium credit insurance policy was included in the amount financed

Answer(s): D



Guidelines for National Banks to Guard against Predatory and Abusive Lending Practices--AL-2003-2 says that refusing to purchase the following types of loans can reduce the possibility of purchasing abusive mortgage loans EXCEPT:

  1. Loans in which the lender has not adequately determined the borrower's ability to repay the debt
  2. Loans subject to the Home Ownership and Equity Protection Act (HOEPA)
  3. Loans with points and fees in excess of 5 percent of the loan amount, except in cases where the higher amount was to prevent the loan from being unprofitable
  4. Loans in which a prepaid multiple-premium credit insurance policy was included in the amount financed

Answer(s): D



Guidelines for National Banks to Guard against Predatory and Abusive Lending Practices--AL-2003-2 says that refusing to purchase the following types of loans can reduce the possibility of purchasing abusive mortgage loans EXCEPT:

  1. Loans in which the lender has not adequately determined the borrower's ability to repay the debt
  2. Loans subject to the Home Ownership and Equity Protection Act (HOEPA)
  3. Loans with points and fees in excess of 5 percent of the loan amount, except in cases where the higher amount was to prevent the loan from being unprofitable
  4. Loans in which a prepaid multiple-premium credit insurance policy was included in the amount financed

Answer(s): D



Viewing Page 13 of 276



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LeAnne Hair 8/24/2023 12:47:00 PM

#229 in incorrect - all the customers require an annual review
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