What does respa stand for Study guides, Class notes & Summaries
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![NMLS Exam Questions and answers, graded A+| LATEST UPDATE | EXAM PREDICTION QUESTIONS |](/docpics/4562036/65d60b22f1076_4562036_121_171.jpeg)
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NMLS Exam Questions and answers, graded A+| LATEST UPDATE | EXAM PREDICTION QUESTIONS |
- Exam (elaborations) • 14 pages • 2024
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NMLS Exam Questions and answers, 
graded A+ 
What does the SAFE Act stand for and what Act is it the key component of? - -1) Secure and Fair 
Enforcement For Mortgage Licensing Act of 2008 
2) HERA: Housing and Economic Recovery Act of 2008 
All mortgage laws except for what fall under the CFPB? - -The Fair Housing Act 
What is the objective of the SAFE Act - -1) Enhance consumer protection and reduce fraud by 
encouraging states to establish minimum standards for the licensing and registrati...
![Principles of Real Estate 2 Practice Test Aceable Questions and Answers Graded A 2024](/docpics/4637044/65e1b01152115_4637044_121_171.jpeg)
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Principles of Real Estate 2 Practice Test Aceable Questions and Answers Graded A 2024
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REO - What term describes a property that is owned by a lender because a third-party buyer couldn't be found at a foreclosure auction? 
 
Real Estate Mortgage Investment Conduit (REMIC) - A type of SPV that holds commercial and residential mortgages in trust, assembles said mortgages into pools based on risk, and issues bonds (securities) on these pools to sell to investors in the secondary mortgage market is a(n): 
 
a concession - Julio considers leasing an apartment unit from Bruno, the land...
![NMLS Exam Review Questions and answers, VERIFIED// LATEST UPDATE [ EXAM PREDICTION QUIZZES]](/docpics/4558551/65d59ffab2f29_4558551_121_171.jpeg)
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NMLS Exam Review Questions and answers, VERIFIED// LATEST UPDATE [ EXAM PREDICTION QUIZZES]
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NMLS Exam Review Questions and 
answers, VERIFIED/ 
WHAT DOES TILA STAND FOR? - -TRUTH IN LENDING ACT 
WHAT DOES RESPA STAND FOR? - -REAL ESTATE SETTLEMENT PROCEDURES ACT 
WHAT IS HPA? - -HOMEOWNER'S PROTECTION ACT 
INTEREST RATE ALSO KNOWN AS - -NOTE RATE OR NOMINAL RATE 
MINIMAL CREDIT SCORE TO QUALIFY FOR AN FHA LOAN - -500 
WHAT DOES PITI STAND FOR? - -PRINCIPAL - INTEREST - TAXES - INSURANCE (CAN ALSO INCLUDE 
HOA FEES) 
WHAT IS CONSIDERED A BUSINESS DAY FOR CLOSING DISCLUSRES? - -ANY DAY...
![SAFE Mortgage Loan Originator Test - National 255 Component with Uniform State Content| Questions and Answers(A+ Solution guide)](/docpics/3005327/64a2f71b6bd12_3005327_121_171.jpeg)
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SAFE Mortgage Loan Originator Test - National 255 Component with Uniform State Content| Questions and Answers(A+ Solution guide)
- Exam (elaborations) • 35 pages • 2023
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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 paying off mortgages. 
What is the purpose of RESPA? (3 things) - a.Protect consumers from excessive settlement costs and 
unea...
![SAFE Mortgage Loan Originator Test - National Component with Uniform St/ LATEST EXAM PREDICTIONS UPDATES, APPROVED. ate. Exam Questions and answers, Verified/](/docpics/4556201/65d5197aacbf5_4556201_121_171.jpeg)
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SAFE Mortgage Loan Originator Test - National Component with Uniform St/ LATEST EXAM PREDICTIONS UPDATES, APPROVED. ate. Exam Questions and answers, Verified/
- Exam (elaborations) • 35 pages • 2024
- Available in package deal
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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...
![NMLS WRITTEN COMPLETE TEST 2024.](/docpics/4935097/66110b5beeb70_4935097_121_171.jpeg)
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NMLS WRITTEN COMPLETE TEST 2024.
- Exam (elaborations) • 7 pages • 2024
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NMLS WRITTEN COMPLETE TEST 2024. 
-AfBA/ABA stands for? 
-What is it? - correct answer -Affiliated Business Arrangement 
-If referring client to another business of yours (1%) then you must disclose ASAP 
 
Other ways to say "Doc Signing" - correct answer -Loan consummation 
-Loan Settlement 
-Loan Closing 
 
What is an escrow account? - correct answer -account holding money for insurance/taxes 
-AKA "impound account" or "reverse account" 
 
-What's an MU4? 
-What are requirements? - corr...
![Mortgage Loan Originator Test | 100% Correct Answers | Verified | Latest 2024 Version](/docpics/5429682/66511d2ac5027_5429682_121_171.jpeg)
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Mortgage Loan Originator Test | 100% Correct Answers | Verified | Latest 2024 Version
- Exam (elaborations) • 7 pages • 2024
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What does RESPA stand for? - The Real Estate Settlement Procedures Act (Regulation X) 
What does ECOA stand for? - Equal Credit Opportunity Act (Regulation B) 
What does TILA stand for? - Truth In Lending Act (Regulation Z) 
What does TRID stand for? - TILA-RESPA Integrated Disclosure Rule (a.k.a. "Know Before You Owe") 
What does CFPB stand for? - Consumer Financial Protection Bureau 
What does NMLS stand for? - Nationwide Mortgage Licensing System and Registry 
What is SAFE and UST? - Secure...
![SAFE 20 HR TEST 2024 WITH 100% CORRECT ANSWERS](/docpics/4652768/65e4562e3531f_4652768_121_171.jpeg)
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SAFE 20 HR TEST 2024 WITH 100% CORRECT ANSWERS
- Exam (elaborations) • 5 pages • 2024
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What Law deals with credit, APR & advertising of consumer loans? correct answersTILA - REG Z 
 
Which regulation prohibits kickbacks? correct answersRESPA 
 
Which regulations requires the lender to cancel PMI when the loan reaches 78% LTV? correct answersHPA - Home Owners Protection Act 
 
Which regulation prohibits fee-splitting? correct answersRESPA - REG. X 
 
"X" is used to describe which Regulation? correct answersRESPA 
 
RESPA is the acronym used to describe which law? correct answersR...
![NMLS Flashcards QUESTIONS AND ANSWERS RATED A+ 2023|2024 UPDATE](/docpics/3602080/6526aab013371_3602080_121_171.jpeg)
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NMLS Flashcards QUESTIONS AND ANSWERS RATED A+ 2023|2024 UPDATE
- Exam (elaborations) • 10 pages • 2023
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AfBA/ABA stands for? 
-What is it? - correct answer -Affiliated Business Arrangement 
-If referring client to another business of yours (1%) then you must disclose ASAP 
Other ways to say "Doc Signing" - correct answer -Loan consummation 
-Loan Settlement 
-Loan Closing 
What is an escrow account? - correct answer -account holding money for 
insurance/taxes 
-AKA "impound account" or "reverse account" 
-What's an MU4? 
-What are requirements? - correct answer -Individual application after...
![NMLS 2023/2024 Questions and Answers (Already Graded A)](/docpics/3635942/652de5c0c219e_3635942_121_171.jpeg)
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NMLS 2023/2024 Questions and Answers (Already Graded A)
- Exam (elaborations) • 5 pages • 2023
- Available in package deal
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- $10.99
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NMLS 2023/2024 Questions and Answers (Already Graded A)NMLS 2023/2024 Questions and Answers (Already Graded A)NMLS 2023/2024 Questions and Answers (Already Graded A)NMLS 2023/2024 Questions and Answers (Already Graded A) 
-AfBA/ABA stands for? 
-What is it? - ANSWER--Affiliated Business Arrangement 
-If referring client to another business of yours (1%) then you must disclose ASAP 
 
Other ways to say "Doc Signing" - ANSWER--Loan consummation 
-Loan Settlement 
-Loan Closing 
 
What is an escr...
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