S.A.F.E Mortgage Loan Originator Exam

S.A.F.E Mortgage Loan Originator Exam GLBA - answerGramm-Leah-Bliley Act FTC - answerFederal Trade Commission FCC - answerFederal Communications Commission NPI - answerNon-public Personal Information Consumer - answerIndividual who obtains financial services for personal use Customer - answerContinuing relationship with a financial institute EBR - answerEstablished Business Relationship FACTA - answerFair Credit Reporting Act (Original FCRA) FHA - answerFair Housing Act & Federal Housing Administration ECOA - answerEqual Credit Opportunity HVCC - answerHome Valuation Code of Conduct HMDA - answerHome Mortgage Disclosure Act CRA - answerConsumer Reporting Agency FDIC - answerFederal Deposit Insurance Corporation RESPA - answerReal Estate Settlement Procedure Act TILA - answerTruth In Lending Act FinCEN - answerFinancial Crime Enforcement Network MDIA - answerMortgage Disclosure Improvement Act DOJ - answerDepartment of Justice OIG - answerOffice of the Inspector General SAR - answerSuspicious Activity Report GNMA - answerGovernment National Mortgage Associates (Ginnie Mae) LTV - answerLoan to Value FICO - answerFair Isaac Corporation HECM - answerHome Equity Conversion Mortgage (Reverse Mortgage) Pre-Texting is what? - answerFraudulently obtaining personal information FTC implements what? - answerThe DO NOT CALL registry FCC Implements what? - answerThe DO NOT FAX registry Safe Guard is Implement by what Act? - answerGLBA If a Consumer inquires about a product, the business relation ship is good for how long? - answer90 Days or 3 months If a Customer purchases a product, the business relationship is good for how long? - answer18 Months How long will a persons name remain on the DO NOT CALL list? - answerForever Red Flag Rules are implement by under what Act? - answerFACTA RESPA is implemented by? - answerRegulation X GFE's are required by? - answerRESPA RESPA was implemented for what? - answer1) disclosure of costs. 2) eliminate kick backs. 3) Max escrow balance amounts. 4) record of land title info. Once application has been received,Initial disclosures including a GFE must be delivered to the borrowers with in? - answer3 Business Days Borrowers must be notified of Service Transfers how many days prior? - answer15 Days Affiliated Business Relationship - answerPerson who is in a position to refer business Associate is - answerSpouse or Parent TILA is part of? - answerConsumer Credit Protection Act Trigger Terms require? - answerAPR disclosure Closing May Occur how many days after initial disclosures are sent out? - answer7 Business Days Closing may occur how many days after a Re-dislcosure? - answer3 Business days You must re-disclose APR fees if they change by how much? - answer1/8% or .125%