NMLS Test Prep CompuCram Test | 120 Questions with 100% Correct Answers | Verified | Latest Update 2024
A borrower signs the note and mortgage for a refinance on his principal residence on Thursday, Dec. 31. What is the earliest day the funds for this loan could be disbursed (assuming no bona fide financial hardship)? - Wednesday, Jan. 6 Who manages the National Do Not Call Registry? - Federal Trade Commission What federal legislation regulates credit reporting agencies and lenders concerning credit reporting? - FCRA What is not prohibited to be included in the loan terms for HOEPA covered items? - late fees. Commissions of real estate brokers or agents would be listed: - In "Other" A Loan Application Report is due by March 1st of each year as a result of the enactment of the - Home Mortgage Disclosure Act. What action would not be considered "adverse action" according to the Fair Credit Reporting Act? - granting a mortgage loan based on the terms the consumer applied for Which loans are not covered under HMDA? - commercial loans
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