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CRCM Exam - Question 37


Supervisory review should also be the part of Subprime Mortgage Lending. It should review:

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Correct Answer: A,C

Supervisory review in subprime mortgage lending should ensure that institutions follow proper risk management and consumer compliance processes. Additionally, it is crucial to take action against institutions that violate consumer protection or fair lending laws, engage in unfair or deceptive acts, or follow unsafe lending practices. These reviews are vital for maintaining the integrity and safety of the financial system and protecting consumers.

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Cam22Option: C
Mar 15, 2024

This option directly addresses the supervisory focus on enforcing compliance with consumer protection and fair lending laws, as well as taking action against institutions involved in unfair, deceptive, or unsafe lending practices. Supervisory reviews in subprime mortgage lending emphasize ensuring that institutions adhere to legal and regulatory standards to protect consumers and maintain the integrity of the financial system.

Dex24Options: AC
May 5, 2024

Page 40 lists A and C. However, only A has the "review" part.