Mortgage Loan Originator Practice Test
Mortgage Loan Originator TILA and RESPA Compliance
Under TILA, what is the primary purpose of the Annual Percentage Rate (APR) disclosure?
Select your answer
A
To show the lender's profit margin
B
To provide a standardized measure of the true cost of credit
C
To indicate the monthly payment amount
D
To disclose the loan origination fee only
Hint
