Truth in lending act Study guides, Class notes & Summaries

ECOA - Reg B - correct answer -Equal Credit Opportunity Act HMDA - Reg C - correct answer -Home Mortgage Disclosure Act RESPA - Reg X - correct answer -Real Estate Settlement Procedures Act TILA - Reg Z - correct answer -Truth In Lending Act HPA - correct answer -Home-owner Protection Act PMI is required when - correct answer -Borrower puts less than 20% down ECOA deals with - correct answer -credit applications HMDA al

S.A.F.E Mortgage Loan Originator Exam 100% Correct GLBA Gramm-Leah-Bliley Act FTC Federal Trade Commission FCC Federal Communications Commission NPI Non-public Personal Information Consumer Individual who obtains financial services for personal use Customer Continuing relationship with a financial institute EBR Established Business Relationship FACTA Fair Credit Reporting Act (Original FCRA) FHA Fair Housing Act & Federal Housing Administration ECOA Equal Credit ...

Mortgage loan originators who make cold calls must comply with the requirements of the National DoNot-Call rules. The loan originator needs to update any download of the registry at least every: 31 days 18 Months 7 days Year - 31 Days The appraisal approach that is used as the best indicator of value for existing properties is: Similar property approach Fair market value approach Market data approach Neighborhood value approach - Market data approach The Truth in Lending Act is contain...

20-HR SAFE COMPREHENSIVE MORTGAGE LOAN ORIGINATOR FUNDAMENTALS HW EXAM 2024 Mortgage loan originators who make cold calls must comply with the requirements of the National Do-Not-Call rules. The loan originator needs to update any download of the registry at least every: 31 days 18 Months 7 days Year - correct answer 31 Days The appraisal approach that is used as the best indicator of value for existing properties is: Similar property approach Fair market value approach Market...

HHS Health and Human Services CMS Centers for Medicare and Medicaid Services HHS U.S. Department of Health and Human Services NIH National Institutes of Health FDA Food and Drug Administration ACL Administration for Community Living; one of the HHS Operating Divisions. QIO Quality Improvement Organization OIG Office of Inspector GeneralACF Administration for Children and Families Title XVIII Medicare Title XIX Medicaid AHA American Hospital Association Patient's Bill of Rights Patien...

Dodd-Frank Act Answer Which federal act created the Consumer Financial Protection Bureau? QUESTION RATIONALE Title X of the Dodd-Frank Act creates the Consumer Financial Protection Bureau (CFPB) as an independent entity with rule-making and enforcement authority over many consumer financial laws. RESPA (Real Estate Settlement Procedures Act) Answer The Consumer Financial Protection Bureau on October 3, 2015, implemented the newly combined disclosure that meets the disclosure requirements ...

Taking advantage of ill-informed consumers through excessively high fees, misrepresented loan terms, frequent refinancing that does not benefit the borrower and other prohibited acts is called __________________________. - Predatory Lending. RESPA-Real Estate Settlement Procedures Act - The Federal Statute that deals with the settlement of residential mortgage loans. RESPA's section 9 Prohibits - Home sellers from requiring home buyers to purchase title insurance from a particular company...

Business Law Unit 1 Challenges Sophia Business Law Unit 1 Challenges Sophia Challenge no# 1 1.The theory of legal realism is based on which of the following?  A.) Societal norms  B.) Interpretation and enforcement  C.) Human rights  D.) Coercion 2.The theory of legal positivism is based on which of the following?  a.) The social construction of laws  b.) Social and economic interests  c.) The morality of laws  d.) Due process 3.The theory of natural l...

What does TILA stand for?Answer - Truth-In-Lending Act, Regulation Z What is a HELOC loan?Answer - a secured loan in that you are borrowing against the equity that has been built in your house What is a REFI loan?Answer - LTV stands forAnswer - Loan to Value Define PMI and state what the acronym stands for.Answer - Private mortgage insurance- on conventional loans Define one time variable funding fee and people in what situations is it waived for?Answer - Disabled veterans ...

MLO SAFE NMLS SAFE TEST PRACTICE QUESTIONS WITH VERIFIED ANSWERS Taking advantage of ill-informed consumers through excessively high fees, misrepresented loan terms, frequent refinancing that does not benefit the borrower and other prohibited acts is called __________________________. Predatory Lending. RESPA-Real Estate Settlement Procedures Act The Federal Statute that deals with the settlement of residential mortgage loans. RESPA's section 9 Prohibits Home sellers from requiring...