How to Answer: How familiar are you with Truth In Lending regulations? How closely do you follow this federal mandate?
Advice and answer examples written specifically for a Mortgage Loan Processor job interview.
14. How familiar are you with Truth In Lending regulations? How closely do you follow this federal mandate?
How to Answer
The interviewer is seeking confirmation that you understand your obligations under the Truth in Lending Act. In your answer, provide this reassurance with a brief explanation of the law, what it means in your role, and how you stay current with any changes.
Written by Rachelle Enns on March 19th, 2021
Answer Example
" I am very familiar with Truth in Lending regulations. This federal law was designed to promote the informed use of consumer credit and to standardize the manner in which costs associated with borrowing are calculated and disclosed. I subscribe to industry information bulletins that give updates on any changes in the law and I will read articles to ensure I understand those changes and the impact on my duties. My current employer has processes that ensure compliance and I am careful to follow them."
Written by Rachelle Enns on March 19th, 2021