Exam (elaborations)
RMLO Study Guide: Complete Study Set - Questions And Answers
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RMLO Study Guide: Complete Study Set - Questions And Answers
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RMLO Study Guide: Complete Study Set - Questions AndAnswers
RESPA Right Ans - Real Estate Settlement Procedures Act - mandates
timely disclosures about settlement process costs
TILA Right Ans - Truth in Lending Act - enables comparison of cash vs cost
of credit, includes APR and finance charge
ECOA Right Ans - Equal Credit Opportunity Act - prohibits discrimination
against protected classes in lending
HOEPA Right Ans - Home Ownership & Equity Protection Act - safeguards
against predatory lending in refinance & sets requirements for high-cost loans
HPML Right Ans - Higher Priced Mortgage Loan - imposes additional
requirements for loans with higher rates
MARS Right Ans - Mortgage Assistance Relief Services - shields
homeowners from mortgage relief scams
BSA-AML/SARS Right Ans - Bank Secrecy Act - Anti-Money
Laundering/Suspicious Activities Reports - prevents money laundering and
terrorist financing
MAP rules Right Ans - Mortgage Acts & Practices Advertising Rule -
prohibits misrepresentation in mortgage credit product communications
FDPA Right Ans - Flood Disaster Protection Act - mandates written notice if
property is in a Special Flood Hazard Area
NFIRA Right Ans - National Flood Insurance Reform Act - prohibits
making/refinancing loans secured by improved real estate/mobile home in
SFHA without flood insurance
TCPA Right Ans - Telephone Consumer Protection Act - regulates
telemarketing calls, auto-dialed calls, prerecorded calls, and unsolicited faxes
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