A loan originator advertises that he has the lowest rates for a thousand miles. Which regulation, if any, did he violate by doing this?
A. Mortgage Acts and Practices (MAP) Rule
B. No regulation was violated
C. Truth-in-Lending Act (TILA)
D. Both a) and c).
Answer:D
A loan originator advertises that he has the lowest rates for a thousand miles. Which regulation, if any, did he violate by doing this?
A. Mortgage Acts and Practices (MAP) Rule B. No regulation was violated C. Truth-in-Lending Act (TILA) D. Both a) and c).