Loan Officer Practice Exam 2025 – Comprehensive All-in-One Guide for Exam Success!

Question: 1 / 415

Which type of information is NOT to be included in Section 5a of the URLA?

Residency plans of the borrower

Property lien identification

Loan amount and purpose information

In Section 5a of the URLA (Uniform Residential Loan Application), the primary focus is on gathering information about the borrower's personal details, such as residency, employment, and debts. Therefore, the inclusion of loan amount and purpose information does not fit in this section, as it pertains more to the financing details rather than personal borrower information.

Residency plans of the borrower, property lien identification, and family relationships with the property seller are relevant to the understanding of the borrower’s circumstances and their connections to the property being financed. These details provide insights into the borrower's situation which are essential for lenders to assess the loan application comprehensively. Thus, the correct choice relates to aspects that are more about the financial specifics of the loan rather than the personal details that Section 5a seeks to collect.

Get further explanation with Examzify DeepDiveBeta

Family relationship with the property seller

Next Question

Report this question

Subscribe

Get the latest from Examzify

You can unsubscribe at any time. Read our privacy policy