2024 crcm exam - Study guides, Class notes & Summaries

A financial institution offers residential loans. After reading a new regulation that expands HOEPA coverage, the compliance officer analyzes the institution's lending portfolio and determines that no existing loans are covered. The compliance officer should NEXT _______ a. advise management to sell that portion of the mortgage portfolio. b. incorporate the new HOEPA triggers into existing training and procedures. c. purchase new software that identifies HOEPA covered loans. d. draft a po...