Compucram Study Guide with Correct Answers
A $100,000 loan will be considered a section 32 loan if the the points and fees are greater than answer 5% of the loan amount Which cost would be included in the apr calculation on the closing disclosure forms? Answer mortgage insurance Which item is not included in the calculation that determines the annual percentage rate? Answer title insurance premium The right of rescission provided under regulation z is the right to answer cancel a contract Which act requires the lender to provide the borrower a reason for rejection of credit in writing within 30 days of loan application? Answer ECOA When taking an application for a mortgage loan, what are creditors not permitted to ask? Answer do you receive child support? Which act amended the truth in lending act, establishing disclosure requirements and prohibiting equity stripping and other abusive practices in connection with "high-cost" mortgages? Answer HOEPA Which of the following individuals is not subject to licensing or registration requirements under the terms and provisions of the secure and fair enforcement act? Answer an individual negotiating rates or terms on the sale of a residence owned by that individual
Document information
- Uploaded on
- July 24, 2023
- Number of pages
- 26
- Written in
- 2022/2023
- Type
- Exam (elaborations)
- Contains
- Questions & answers
