1 Exam (elaborations) Federal Mortgage-Related Laws- Practice Problems well solved 2023 2 Exam (elaborations) Federal Mortgage - Related Laws II question n answers graded A+ 3 Exam (elaborations) Federal Mortgage-Related Laws question well solved 2023 4 Exam (elaborations) Federal Mortgage-Relat...
[Show more]
NMLS - Federal Mortgage-Related Laws question with complete solution 2023What purpose does escrow analysis serve? - correct answer An aggregate escrow analysis (Annual Escrow Statement) is provided to borrowers annually, pursuant to Section 10 of RESPA. It's purpose is the prevent escrow overages. ...
Preview 2 out of 12 pages
Add to cartNMLS - Federal Mortgage-Related Laws question with complete solution 2023What purpose does escrow analysis serve? - correct answer An aggregate escrow analysis (Annual Escrow Statement) is provided to borrowers annually, pursuant to Section 10 of RESPA. It's purpose is the prevent escrow overages. ...
Federal Mortgage Related Law question and answers graded A+ 2023Real Estate Settlement Procedures Act - correct answer Regulation X 1974 RESPA - correct answer Real Estate Settlement Procedures Act Equal Credit Opportunity Act - correct answer Regulation B 1974 ECOA - correct answer Equal C...
Preview 1 out of 3 pages
Add to cartFederal Mortgage Related Law question and answers graded A+ 2023Real Estate Settlement Procedures Act - correct answer Regulation X 1974 RESPA - correct answer Real Estate Settlement Procedures Act Equal Credit Opportunity Act - correct answer Regulation B 1974 ECOA - correct answer Equal C...
NMLS Study Guide- FEDERAL MORTGAGE-RELATED LAWS fully solved 2023 updatedDodd-Frank Act - correct 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 ...
Preview 4 out of 35 pages
Add to cartNMLS Study Guide- FEDERAL MORTGAGE-RELATED LAWS fully solved 2023 updatedDodd-Frank Act - correct 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 ...
Chapter 1: Federal Mortgage- Related Laws fully solved graded A+ 2023 verifiedwhat is RESPA - correct answer Real Estate Settlement Procedures Act; provides consumer protection for loans on residential properties (1-4 units) RESPA: Regulation ? - correct answer X; primarily involved with the disc...
Preview 2 out of 9 pages
Add to cartChapter 1: Federal Mortgage- Related Laws fully solved graded A+ 2023 verifiedwhat is RESPA - correct answer Real Estate Settlement Procedures Act; provides consumer protection for loans on residential properties (1-4 units) RESPA: Regulation ? - correct answer X; primarily involved with the disc...
Federal Mortgage Related Laws -CompuCom question and answers graded A+ 2023What loan type is NOT included in the Home Mortgage Disclosure Act? - correct answer Vacant land loans What are the terms of the "cooling off" period if a loan falls under HOEPA? - correct answer Three business days PRIO...
Preview 4 out of 33 pages
Add to cartFederal Mortgage Related Laws -CompuCom question and answers graded A+ 2023What loan type is NOT included in the Home Mortgage Disclosure Act? - correct answer Vacant land loans What are the terms of the "cooling off" period if a loan falls under HOEPA? - correct answer Three business days PRIO...
NMLS: Federal Mortgage Related Laws question and answers rated 2023 passed1. The penalties for paying or accepting an illegal referral fee are: - correct answer Fines of up to $10,000 and up to one year in prison 2. An annual escrow analysis is used to do which of the following? - correct answer ...
Preview 2 out of 10 pages
Add to cartNMLS: Federal Mortgage Related Laws question and answers rated 2023 passed1. The penalties for paying or accepting an illegal referral fee are: - correct answer Fines of up to $10,000 and up to one year in prison 2. An annual escrow analysis is used to do which of the following? - correct answer ...
FEDERAL MORTGAGE-RELATED LAWS QUESTIONS and 100% correct answers graded A+ 2023 A lender has how many business days to notify the borrower of an underwriting decision? - correct answer The Equal Credit Opportunity Act requires that any decision be communicated to the applicant within 30 days. Ac...
Preview 2 out of 11 pages
Add to cartFEDERAL MORTGAGE-RELATED LAWS QUESTIONS and 100% correct answers graded A+ 2023 A lender has how many business days to notify the borrower of an underwriting decision? - correct answer The Equal Credit Opportunity Act requires that any decision be communicated to the applicant within 30 days. Ac...
Federal Mortgage-Related Laws question and answers graded A+ 2023 verifiedThe Home Mortgage Disclosure Act , HMDA, Regulation C - correct answer According to the Home Mortgage Disclosure Act, by March 1 following the calendar year for which the loan data are compiled, a financial institution shall s...
Preview 2 out of 10 pages
Add to cartFederal Mortgage-Related Laws question and answers graded A+ 2023 verifiedThe Home Mortgage Disclosure Act , HMDA, Regulation C - correct answer According to the Home Mortgage Disclosure Act, by March 1 following the calendar year for which the loan data are compiled, a financial institution shall s...
Module 1: Federal Mortgage-Related Laws question n answers graded A+ 2023What are the penalties for violation of RESPA/Section - correct answer Prohibits referral fees and other forms of kickbacks/fee splitting Penalties include fines of up to $10,000 and up to one year in prison Disclosures d...
Preview 2 out of 13 pages
Add to cartModule 1: Federal Mortgage-Related Laws question n answers graded A+ 2023What are the penalties for violation of RESPA/Section - correct answer Prohibits referral fees and other forms of kickbacks/fee splitting Penalties include fines of up to $10,000 and up to one year in prison Disclosures d...
NMLS Module 1 - Federal Mortgage-Related Laws question and answers graded A+ 2023The definition of "nonpublic personal info" includes: A) unrestricted info found online B) info found in gov. real estate records C) listed phone numbers D) account balance & history - correct answer D) account b...
Preview 2 out of 12 pages
Add to cartNMLS Module 1 - Federal Mortgage-Related Laws question and answers graded A+ 2023The definition of "nonpublic personal info" includes: A) unrestricted info found online B) info found in gov. real estate records C) listed phone numbers D) account balance & history - correct answer D) account b...
Federal Mortgage Related Laws Test Exam question and answers graded A+ 2023 Red Flag Rules are part of what federal law? A. ECOA B. FACT Act C. Gramm-Leach-Bliley Act D. SAFE Act - correct answer B. FACT ACT Section 114 of the FACT Act is known as the Red Flags Rules, which, among oth...
Preview 3 out of 19 pages
Add to cartFederal Mortgage Related Laws Test Exam question and answers graded A+ 2023 Red Flag Rules are part of what federal law? A. ECOA B. FACT Act C. Gramm-Leach-Bliley Act D. SAFE Act - correct answer B. FACT ACT Section 114 of the FACT Act is known as the Red Flags Rules, which, among oth...
Federal Mortgage-Related Laws question with complete solution 2023 passedRESPA - correct answer Real Estate Settlement Procedures Act of 1974; aka Regulation X RESPA's purpose - correct answer To allow consumers to obtain information on the costs of closing so that they can shop for settlement s...
Preview 2 out of 11 pages
Add to cartFederal Mortgage-Related Laws question with complete solution 2023 passedRESPA - correct answer Real Estate Settlement Procedures Act of 1974; aka Regulation X RESPA's purpose - correct answer To allow consumers to obtain information on the costs of closing so that they can shop for settlement s...
NMLS - Federal Mortgage-Related Law correctly answered rated A+ 2023 What regulation is RESPA under? - correct answer Regulation X Purpose is to protect consumers by assisting them in becoming better educated while shopping for real estate services. - correct answer RESPA This act requires mo...
Preview 3 out of 24 pages
Add to cartNMLS - Federal Mortgage-Related Law correctly answered rated A+ 2023 What regulation is RESPA under? - correct answer Regulation X Purpose is to protect consumers by assisting them in becoming better educated while shopping for real estate services. - correct answer RESPA This act requires mo...
Federal Mortgage-Related Laws question n answers graded A+ 2023 passedUnder which federal legislation does the consumer have the right to receive a copy of the appraisal report on a dwelling that is to be used as collateral for a loan? - correct answer Equal Credit Opportunity Act What loan type ...
Preview 1 out of 4 pages
Add to cartFederal Mortgage-Related Laws question n answers graded A+ 2023 passedUnder which federal legislation does the consumer have the right to receive a copy of the appraisal report on a dwelling that is to be used as collateral for a loan? - correct answer Equal Credit Opportunity Act What loan type ...
Federal Mortgage-Related Laws Practice Questions and answers rated A+ 2023 verifiedThe penalties for paying or accepting an illegal referral fee are: (RESP Section A) - correct answer Fines up to $10,000 and up to one year in prison An annual escrow analysis is used to do what? - correct answer P...
Preview 2 out of 10 pages
Add to cartFederal Mortgage-Related Laws Practice Questions and answers rated A+ 2023 verifiedThe penalties for paying or accepting an illegal referral fee are: (RESP Section A) - correct answer Fines up to $10,000 and up to one year in prison An annual escrow analysis is used to do what? - correct answer P...
Federal Mortgage-Related Laws graded A+ already passed 2023The penalties for paying or accepting an illegal referral fee are: - correct answer Fines of up to $10,000 and up to one year in prison An annual escrow analysis is used to do which of the following? - correct answer Prevent escrow overag...
Preview 2 out of 11 pages
Add to cartFederal Mortgage-Related Laws graded A+ already passed 2023The penalties for paying or accepting an illegal referral fee are: - correct answer Fines of up to $10,000 and up to one year in prison An annual escrow analysis is used to do which of the following? - correct answer Prevent escrow overag...
Federal Mortgage Related Laws questions well answered rated A+ 2023 On the Loan Estimate, a permanent buydown of the interest rate by the borrower will show as a: - correct answer charge to the borrower Adrian, a mortgage broker, referred her client to A&A Title, a company that both she and her ...
Preview 2 out of 10 pages
Add to cartFederal Mortgage Related Laws questions well answered rated A+ 2023 On the Loan Estimate, a permanent buydown of the interest rate by the borrower will show as a: - correct answer charge to the borrower Adrian, a mortgage broker, referred her client to A&A Title, a company that both she and her ...
FEDERAL MORTGAGE-RELATED LAWS correctly answered questions rated A+ passed For how many days must the settlement charges detailed in a Loan Estimate be available? - correct answer 10 business days How often must a lender perform an escrow account analysis to ensure that excess funds are NOT bein...
Preview 1 out of 4 pages
Add to cartFEDERAL MORTGAGE-RELATED LAWS correctly answered questions rated A+ passed For how many days must the settlement charges detailed in a Loan Estimate be available? - correct answer 10 business days How often must a lender perform an escrow account analysis to ensure that excess funds are NOT bein...
Federal Mortgage-Related Laws questions well answered 2023 latest updateWhat information is a mortgage loan originator NOT allowed to ask a borrower who is applying for a home mortgage? A. Receipt of public assistance B. Sex C. Ethnicity D. Race - correct answer A. Receipt of public assistance ...
Preview 2 out of 7 pages
Add to cartFederal Mortgage-Related Laws questions well answered 2023 latest updateWhat information is a mortgage loan originator NOT allowed to ask a borrower who is applying for a home mortgage? A. Receipt of public assistance B. Sex C. Ethnicity D. Race - correct answer A. Receipt of public assistance ...
Federal Mortgage-Related Laws question and answers graded A+ 2023One the LE, what is ALWAYS a settlement service cost that goes in Section C as a provider service the borrower CAN shop for? - correct answer Borrower's title insurance policy To comply with the provisions of RESPA, a lender must p...
Preview 2 out of 7 pages
Add to cartFederal Mortgage-Related Laws question and answers graded A+ 2023One the LE, what is ALWAYS a settlement service cost that goes in Section C as a provider service the borrower CAN shop for? - correct answer Borrower's title insurance policy To comply with the provisions of RESPA, a lender must p...
Federal Mortgage-Related Laws for SAFE MLO TEST fully solved 2023Regulation B - correct answer ECOA (Equal Credit Opportunity Act) Regulation C - correct answer Home Mortgage Disclosure Act (HMDA) Regulation X - correct answer Real Estate Settlement Procedures Act (RESPA) Regulation V - cor...
Preview 3 out of 18 pages
Add to cartFederal Mortgage-Related Laws for SAFE MLO TEST fully solved 2023Regulation B - correct answer ECOA (Equal Credit Opportunity Act) Regulation C - correct answer Home Mortgage Disclosure Act (HMDA) Regulation X - correct answer Real Estate Settlement Procedures Act (RESPA) Regulation V - cor...
Federal Mortgage-Related Laws question well solved 2023The Equal Credit Opportunity Act requires lenders to inform applicants of the status of their loan within - correct answer 30 days of application. TILA-required disclosures - correct answer CHARM Booklet Right to Rescind Loan Estimate If...
Preview 2 out of 8 pages
Add to cartFederal Mortgage-Related Laws question well solved 2023The Equal Credit Opportunity Act requires lenders to inform applicants of the status of their loan within - correct answer 30 days of application. TILA-required disclosures - correct answer CHARM Booklet Right to Rescind Loan Estimate If...
Federal Mortgage - Related Laws II question n answers graded A+ Homeowners Protection Act (HPA) - correct answer The act that requires Private Mortgage Insurance (PMI) removal. Allows borrowers to request that lenders cancel PMI when their loan balance reaches 80% of the value of the home that se...
Preview 2 out of 8 pages
Add to cartFederal Mortgage - Related Laws II question n answers graded A+ Homeowners Protection Act (HPA) - correct answer The act that requires Private Mortgage Insurance (PMI) removal. Allows borrowers to request that lenders cancel PMI when their loan balance reaches 80% of the value of the home that se...
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
You can quickly pay through credit card for the summaries. There is no membership needed.
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Stuvia is a marketplace, so you are not buying this document from us, but from seller BukayoSaka120. Stuvia facilitates payment to the seller.
No, you only buy these notes for £49.32. You're not tied to anything after your purchase.
4.6 stars on Google & Trustpilot (+1000 reviews)
75323 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy revision notes and other study material for 14 years now