CCBCO Practice Questions - ICBA Certified Community Bank Compliance Officer Exam

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A community bank originates a high-cost mortgage subject to HOEPA. Which of the following is required by HOEPA before consummation?

Pre-loan counseling from a HUD-certified housing counseling agency A second appraisal regardless of loan amount Recording of the borrower's call with the lender Approval from the bank's primary federal regulator

Correct Answer:

Pre-loan counseling from a HUD-certified housing counseling agency

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