Compucram Questions to Review | Questions with 100% Correct Answers | Updated & Verified

The loan estimate and closing disclosure must be used for most _____________mortgages? - Closed end Identify the statement that is TRUE about the UST section of the SAFE MLO National Test component. - All applicants after April 2013 will be required to take and pass the UST section of the test. A loan originator who does not include a borrower's receipt of disability income on a loan application is - committing an act of fraud by omission. The Home Mortgage Disclosure Act provides the data for tracking lender compliance with Fair Housing law and the - Equal Credit Opportunity Act. What law regulates settlement and closing procedures and practices? - RESPA When disclosing the amount of premium for title insurance: - The creditor must disclose the amount of premium for lender's title coverage without any adjustment made for the owner's title policy. Which federal act introduced the idea of a qualified mortgage? - Dodd-Frank