NMLS TEST Affinity (Latest Update)
Questions and Verified Answers | 100% Correct |
Grade A+
Save
Terms in this set (294)
What law deals with credit, APR & TILA
Advertising of consumer loans?
Which regulation prohibits RESPA
kickbacks?
Which regulations require the HPA-Homeowners Protection Act
lender to cancel PMI when the loan
reaches 78% LTV?
Which Regulation prohibits fee RESPA
splitting?
, Regulation X is the letter used to RESPA
describe which law?
RESPA is the acronym used to Real Estate Settlement Procedures Act
describe which law?
What type of mortgage requires a VA Loan
non-refundable funding fee?
What is the provision in a mortgage Acceleration Clause
enabling a lender to demand full
repayment if the borrower
DEFAULTS on the loan?
What is the provision in a mortgage Alienation Clause
enabling a lender to demand full
repayment if the borrower
TRANSFERS the loan?
What does CFPB stand for? Consumer Financial Protection Bureau
What two laws created the CFBP? Dodd Frank Act and Consumer Finance
Protection Act
Which regulation is designed to CRA- Community Reinvestment Act
help meet the Credit needs of the
Communities in which it operates?
Questions and Verified Answers | 100% Correct |
Grade A+
Save
Terms in this set (294)
What law deals with credit, APR & TILA
Advertising of consumer loans?
Which regulation prohibits RESPA
kickbacks?
Which regulations require the HPA-Homeowners Protection Act
lender to cancel PMI when the loan
reaches 78% LTV?
Which Regulation prohibits fee RESPA
splitting?
, Regulation X is the letter used to RESPA
describe which law?
RESPA is the acronym used to Real Estate Settlement Procedures Act
describe which law?
What type of mortgage requires a VA Loan
non-refundable funding fee?
What is the provision in a mortgage Acceleration Clause
enabling a lender to demand full
repayment if the borrower
DEFAULTS on the loan?
What is the provision in a mortgage Alienation Clause
enabling a lender to demand full
repayment if the borrower
TRANSFERS the loan?
What does CFPB stand for? Consumer Financial Protection Bureau
What two laws created the CFBP? Dodd Frank Act and Consumer Finance
Protection Act
Which regulation is designed to CRA- Community Reinvestment Act
help meet the Credit needs of the
Communities in which it operates?