[SS Eth] Financial Responsibility
The concept of financial responsibility as it relates to mortgage origination refers to both the individual loan originator’s qualifications and his or her handling of loan transactions. Financial responsibility can also refer to the loan originator’s compliance with regulations such as the ATR Rule and the Loan Originator Compensation Rule. Showing regard for the consumer’s ability to afford a mortgage loan, and ensuring loan suitability, also demonstrate the loan originator’s ability to make sound financial judgments.
This course will review the importance of financial responsibility as a mortgage professional.