General Knowledge Questions
Tips and Hints
Tips and Hints
WORTH: 100 POINTS
How many different sources can provide loan information for TRID testing:
G_______S____E____
E_____
B____
D______
1. Genesis SalesEdge
2. Edge
3. Blend
4. Digital Platform
What is Brooks?
Brooks Webcalc is PNC's independent third party provider that is utilized to aid in the validation of regulatory mortgage loan calculations and certain TRID requirements.
True or False
To execute TRID, you will have to know/memorize all the TRID calculations and manually complete the Math equations in your slides.
Both True and False determines how you read the question.
True -- You have to ensure all math equations are documented in the note section of the slides.
False -- you will not need to know/memorize which ones are which. You have this information from the previous execution.
What drives the TRID validation?
The actual loan document drives the validation -- ILE, RLE, ICD, RCD.
WHAT ARE SOME COMMON SAYING FROM "SHARON"?
1. Let's go to work
2. Please forgive my scroll
3. Collaborate
4. Email is the last form of communication
5. How are you doing; feeling?
6. Hey can you IM during your meeting?
7. Does that make sense?
8. We do great work!!!!!!!
Worth 200 points
What documents can you use to help guide you with TRID execution?
P______ E______ P______P______
T___T____J__A__
E__L____F___
1. Previous Execution Power Point
2. Testing TRID Job Aid
3. EMO Loan Flow
WORTH: 200 POINTS
What are the 3 high-level categories that have applicable regulatory calculations and disclosure requirements Brooks validate:
1. T____I_L______C_______
2. T___C_______
3. T___D______R_______
1. Truth- In Lending Calculations
2. TRID Calculations
3. TRID Disclosure
True or False:
Every TRID execution run will have the exact same number of slides.
False.
You might use a different loan amount, use different fees which would cause your pages numbering to be different. However, given you have the same product, the numbering should be close.
What does Source Data mean?
The EMO screen that is source of the field information and not a display field on the identified screen.
Also Brooks and Form Specs are used as source data for certain information.
WORTH 300 POINTS
What are some tips and hints for Brooks?
S____O____
E____E____I______
U__C____F__E________F___
D___E____B____O_P_____
A__S_____t_c_____y____B_____
1. Save Often
2. Enter Escrow Information
3. Use Custom for Entering Fees
4. Data Entry based on Product
5. Ask Sharon to complete your Brooks
Name all the fields that you can think of that are directly impacted by TRID calculations or requirements. We reviewed 8 fields in our training.
1. APR
2. Finance Charge
3. Amount Financed
4. Total Payments (TIL)
5. In 5 years calculations
6. Total Interest Percentage (TIP)
7. Total of Payments (TOP)8. Project Payments Table
8. Projected Payments Table
True or False
You dont have to know "why" you are executing to make you a good TRID tester.
False:
Knowing why you are executing will have you understand defects when they occur. Also you will be able to understand the flow of the product that you are testing.
Why is the Disclosure Tracking Screen shot needed in TRID execution documentation (evidence package)?
This screenshot is needed to show evidence a change has occurred triggering the Revised Loan Estimate.