Compucram questions with correct answers

An objective of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 is to Answer eliminate unfair practices relating to compensation paid to mortgage loan originators. The Federal Reserve Board crafted a ruling, the Federal Reserve Loan Originator Compensation Rule, which, as a result of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, set standards to prevent unfair practices by mortgage loan originators related to compensation paid by borrowers. Loan Originator Compensation Requirements is a set of amendments to which federal Act? Answer Truth in Lending Act (TILA) As mandated by Dodd-Frank, the Loan Originator Compensation Requirements are a set of amendments to the Truth in Lending Act (TILA). When a completing a Loan Estimate, where should a licensed mortgage loan originator include an estimate of applicable property taxes and hazard insurances? Answer Prepaid items Escrows such as property taxes and hazard insurance are listed under Prepaids. Two of the major components of the Dodd-Frank Wall Street Reform and Consumer Protection Act are Answer the Consumer Financial Protection Act and the Mortgage Reform and Anti-Predatory Lending Act. These two titles (or components) from the Dodd-Frank Act, Title X, the Consumer Financial Protection Act and Title XIV, the Mortgage Reform and Anti-Predatory Lending Act, had significant impact on the mortgage ind