Redlining Study guides, Class notes & Summaries

Which federal law requires that the Loan Estimate be provided to the borrower within three business days of the time of loan application is taken? - correct answer -TILA What type of scam entails homeowners who are encouraged to refinance their property over and over until little or no equity remains? - correct answer -Loan flipping or churning After a loan closing, funds are disbursed. When are the funds disbursed for an owner-occupied, residential refinance? - correct answer -After 3 bus...

Blockbusting causes: A Trust busting B Panic peddling C Blind advertising D Redlining - ANSWER-B. Panic Peddling Blockbusting causes panic peddling (also known as panic selling), where homeowners quickly sell their homes for fear of a drop in home values due to the entry of a protected class into their neighborhood. Which of the following advertisements would violate fair housing law? A Private outdoor space B No elevator access C Walk-in closet D Easy access to the highway - AN...

Asset held In a land trust correct answers Real Estate Level of government where building codes are enforced correct answers Local Fixtures correct answers items of personal property that are attached or annexed to real property Fair Housing Act of 1968 correct answers Prohibited discrimination concerning the sale, rental, and financing of housing based on race. Eliminate discrimination caused by blockbusting, steering, and redlining. Steering correct answers Channeling prospective b...

Which of the following practices would most likely deteriorate the economic status of a neighborhood? Select one: A. Redlining B. Steering C. Overdevelopment of property D. Bulk zoning - (fair housing law

Who is responsible for ensuring that the Closing Disclosure is delivered to the consumer? A.The creditor B.The loan processor C.The consumer D. The CFPB - ️️A. the creditor Which law restricts the sharing of information given when a consumer applies for a mortgage loan? A. Fair Credit Reporting Act B. FTC Disposal Rules C. Gramm-Leach-Bliley Act D. Consumer Regulatory Protection Act - ️️C. Gramm-Leach-Bliley Act Which document actually contains the borrower's promi...

Gold Coast school questions with complete solutions!Real property - correct answer Physical land and improvements together with legal rights tobowj or use a property accretion - correct answer Increase in land area as moving water deposits soil in other than its original location Security deposit - correct answer 15 days if no intention for claim Redlining - correct answer A discriminatory real estate practice in North America in which members of minority groups are prevented from o...

Asset held In a land trust - Real Estate Level of government where building codes are enforced - Local Fixtures - items of personal property that are attached or annexed to real property Fair Housing Act of 1968 - Prohibited discrimination concerning the sale, rental, and financing of housing based on race. Eliminate discrimination caused by blockbusting, steering, and redlining. Steering - Channeling prospective buyers or tenants to particular neighborhoods based upon their race, religion...

Blockbusting causes: A Trust busting B Panic peddling C Blind advertising D Redlining - B. Panic Peddling Blockbusting causes panic peddling (also known as panic selling), where homeowners quickly sell their homes for fear of a drop in home values due to the entry of a protected class into their neighborhood. Which of the following advertisements would violate fair housing law? A Private outdoor space B No elevator access C Walk-in closet D Easy access to the highway - C Walk-in close...

Deed Restrictions - Correct answer-Legally enforceable terms that govern the use of real estate Redlining - Correct answer-The practice of refusing to make residential loans or imposing more onerous terms on any loans made because of the predominant race, color, national origin, religion, sex, disability, or familial status of the area's residents. Civil Rights Act of 1968 - Correct answer-Following the assassination of Dr. Martin Luther King Jr., Congress passed what monumental piece of ...

1.The practice of getting people to sell their homes at bargain prices by suggesting that certain ethnic groups are going to move into the area is nicknamed: 1.Price fixing 2.Redlining 3.Steering 4.Blockbusting - Correct Choice:4 2.You and the borrower believe an Adjustable Rate Mortgage would be best for the borrower. What is the name of the booklet you are required to give? 1.CHARM Booklet 2.ARM Disclosure 3.Fair Lending Practices Booklet 4.RESPA Booklet - Correct Choice:1 3.How many d...