MBA CMB Practice Questions - Certified Mortgage Banker (Residential) Exam

Which of the following changes to a Closing Disclosure triggers a new 3-business-day waiting period?

APR increase by more than 1/8 of 1 percent for fixed-rate (or 1/4 for ARM) Addition of a prepayment penalty Loan product change (e.g., fixed to ARM) All of the above

Correct Answer:

All of the above

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