Introduction to Mortgage Origination Examiniations

Internal Use Only

Regulation N: Prohibits Misrepresentations Relating To:

Interest Charged

APR or Rate Prepayment Penalties

Fees or Costs

Other Products

Taxes & Insurance

Fixed/Variable Interest Payments Due

Type of Loan Product

Source of Solicitation Effectiveness of Product in Reducing Debt Likelihood of Obtaining Refinance or Modification

Amount of Credit Association or Affiliation with Government Likelihood of Obtaining Mortgage

Potential for Default Comparisons with Illusory Rates or Terms

Counseling or Expert Advice

Right to Reside in Dwelling

24-Month Recordkeeping Requirement!

Internal Use Only

State Laws

• FTC acts • Violations of relevant federal laws