Introduction to Mortgage Origination Examinations Training

3/7/2025

Internal Use Only

Activity – Valid Not Valid • Loan officer sent out a solicitation to a former customer offering a streamline refinance stating: “Most loans close in 3 weeks, and you don’t even have to leave the comfort of your home to sign documents.” • Borrower decided to proceed with the transaction • Initial & locked Loan Estimate contained “Title – Settlement” at $1,200 and “Title – Lender’s Title Ins.” at $500 but no other title fees • Closing Disclosure contained both those fees, as well as a $200 “Title – Mobile Notary” fee (fee is not paid to an affiliate of the lender)

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Internal Use Only

Activity – Valid Not Valid • Lender issued an initial Loan Estimate on June 30 • At that time, borrower chose to float their interest rate • Borrower decides to lock their rate on July 7, 2020 • Lender issues a revised Loan Estimate within 3 business days of the rate lock • Revised estimate shows: • Lender credit decreased from $2,560 to $0 • Points increased from $0 to $2,560 • Credit report fee increased from $65 to $105

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