What does the cfpb do - Study guides, Class notes & Summaries

Who oversees RESPA? correct answers CFPB Who enforces RESPA? correct answers CFPB Who oversees ECOA? correct answers CFPB Who enforces ECOA? correct answers CFPB and FTC Who oversees TILA? correct answers CFPB Who enforces TILA? correct answers CFPB (FTC for advertisement penalties) Who oversees the National Do Not Call Registry? correct answers FCC, FTC Who enforces the National Do Not Call Registry? correct answers FTC Which law regulates the activities of consumer repo...

What does UST stand for? correct answers Uniform State Test Who does the CFPB protect? correct answers The Consumer Financial Protection Bureau protects consumers in the financial marketplace. What does the CFPB do? correct answers CFPB is now in charge of implementing and enforcing most of the provisions of federal lending laws that relate to protecting consumers while they are shopping for, securing, and paying off mortgages. What is the purpose of RESPA? (3 things) correct answers a....

CIPP/US EXAM QUESTIONS WITH CORRECT ANSWERS- LATEST UPDATE 2024 What are 5 elements that must be in a security program under GLBA - Answer-1. Designate an employee to coordinate the safeguards 2. Identify and assess the risks to customer information in each relevant area of the company's operation and evaluate the effectiveness of the current safeguards for controlling those risks 3. Design and implement a safeguard program and regularly monitor and test it 4. Select appropriate service p...

NMLS Laws and Regulations Exam Questions with Complete Solutions Who oversees RESPA? - Answer-(CFPB) Consumer Financial Protection Bureau How long must records be kept under RESPA? - Answer-5 years (RESPA has 5 letters= 5 letters of record keeping) What are the penalties for violating RESPA? - Answer-$10k, 1 yr in prison OR both (5 years x 2= $10,000 fine) TILA - Answer-Truth in Lending Act What does TILA do? - Answer-• part of the Federal Consumer Protection Act and lays out...

SAFE Mortgage Loan Originator Test - National Component with Uniform State Content Exam Questions With Verified Answers What does UST stand for? - answerUniform State Test Who does the CFPB protect? - answerThe Consumer Financial Protection Bureau protects consumers in the financial marketplace. What does the CFPB do? - answerCFPB is now in charge of implementing and enforcing most of the provisions of federal lending laws that relate to protecting consumers while they are shopping for,...

CFPB correct answers Consumer Financial Protection Bureau What does the CFPB do? correct answers Regulates RESPA, TILA, ECOA, and HMDA FTC correct answers Federal Trade Commission What does the FTC do? correct answers Monitors Red Flag Rules RESPA correct answers Real Estate Settlement Procedures Act What does RESPA do? correct answers •Protects homeowners of Single, 1-4 family dwellings, condos, & homes manufactured on lot. •Educates borrowers costs of loan • Eliminates ...

SAFE Mortgage Loan Originator Test - National Component with Uniform State Content Exam Questions With Verified Answers What does UST stand for? - answerUniform State Test Who does the CFPB protect? - answerThe Consumer Financial Protection Bureau protects consumers in the financial marketplace. What does the CFPB do? - answerCFPB is now in charge of implementing and enforcing most of the provisions of federal lending laws that relate to protecting consumers while they are shopping for,...

SAFE Mortgage Loan Originator Test - National Component with Uniform State. Exam Questions and answers, Verified/ What does UST stand for? - -Uniform State Test Who does the CFPB protect? - -The Consumer Financial Protection Bureau protects consumers in the financial marketplace. What does the CFPB do? - -CFPB is now in charge of implementing and enforcing most of the provisions of federal lending laws that relate to protecting consumers while they are shopping for, securing, and pay...

ASREB Exam Practice Questions and Answers types of loans - Correct Answer ️️ -FHA loan, Conventional loan, VA loan FHA loan - Correct Answer ️️ -MIP (Mortgage Insurance Premium) Two types (Upfront and Monthly) Conventional loan - Correct Answer ️️ -PMI (Private Mortgage Insurance) Drops off automatically at 78% loan to value (LTV) Ask for removal at 80% loan to value VA Loan - Correct Answer ️️ -Funding Fee based on value USDA loan - Correct Answer ️️ -loan is zero do...