Loan Officer Practice Exam 2026 – Comprehensive All-in-One Guide for Exam Success!

Question: 1 / 415

What information is NOT required to submit a complete mortgage loan application triggering federal disclosures?

Social Security Number

When submitting a complete mortgage loan application, certain pieces of information are required to trigger federal disclosures. The address of the subject property, for example, is critical because it helps determine the appropriate disclosures based on the location and type of real estate involved.

Employment verification is also necessary as lenders need to assess the borrower's income stability and ability to repay the loan. Most recent two months of bank statements are required to verify the borrower’s financial health and to check their ability to cover the down payment and closing costs.

However, while the Social Security number is important for identity verification and credit checks, it is not explicitly required to submit the initial application that triggers federal disclosures. Therefore, it is acceptable to submit an application without having the Social Security number at the outset, making it the correct choice in this scenario.

Get further explanation with Examzify DeepDiveBeta

Most recent two months of bank statements

Address of the subject property

Employment verification

Next Question

Report this question

Download Loan Officer Practice Exam PDF Study Guide
Subscribe

Get the latest from Examzify

You can unsubscribe at any time. Read our privacy policy