Which of the following is a major component of the Dodd Frank Act?
A. Positively identifying one’s customer
B. Establishing the applicant’s ability to repay
C. Ensuring the proper use of the loan proceeds at closing
D. Ensuring that the customer’s interest rate is reasonable
Answer:B
Which of the following is a major component of the Dodd Frank Act?
A. Positively identifying one’s customer B. Establishing the applicant’s ability to repay C. Ensuring the proper use of the loan proceeds at closing D. Ensuring that the customer’s interest rate is reasonable