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UST Quizlet SAFE Exam Questions And Answers With Verified Solutions Already Passed!!!
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UST Quizlet SAFE Exam Questions And Answers With Verified Solutions Already Passed!!!
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UST Quizlet SAFE Exam Questions AndAnswers With Verified Solutions Already
Passed!!!
CSBS and AARMR - ANSWER✔✔ who established the NMLS & got together to
write the SAFE act before sending it to HUD. they got together and wrote HERA
which then led too creation of SAFE act
Aunt - ANSWER✔✔ all of the following are considered immediate family
members and there fore an MLO may negotiate mortgage terms on their behalf
except: stepparent, aunt, adopted siblings, grandparent
SAFE Act - ANSWER✔✔ purpose to increase uniformity, reduce regulatory
burden, enhance consumer protection and reduce fraud
HERA - ANSWER✔✔ created to address the subprime mortgage crisis and out of
this came the SAFE Act
SAFE act - ANSWER✔✔ Title V of HERA
HUD - ANSWER✔✔ Who wrote and implemented Regulation G which sets
licensing standards for MLOs but passed control over the CFPB in 2011
state regulator or state regulator authority - ANSWER✔✔ who is responsible for
determining whether to issue a license approval or not
At anytime - ANSWER✔✔ When can you be investigated by the CFPB or state
regulatory authority
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