Ecoa is regulation - Study guides, Class notes & Summaries

Taking advantage of ill-informed consumers through excessively high fees, misrepresented loan terms, frequent refinancing that does not benefit the borrower and other prohibited acts is called __________________________. - Predatory Lending. RESPA-Real Estate Settlement Procedures Act - The Federal Statute that deals with the settlement of residential mortgage loans. RESPA's section 9 Prohibits - Home sellers from requiring home buyers to purchase title insurance from a particular company...

Regulation B states that a creditor must provide an applicant a copy of all appraisals and other written valuations developed in connection with an application for credit that is to be secured by a first lien on a dwelling. For closed-end credit, the appraisal copy must be provided to the applicant at least ____ business days prior to consummation of the transaction correct answers 3 Regulation B, which implements ECOA, states that a creditor must provide an applicant a copy of all appraisals...

MLO SAFE NMLS Safe Test Practice Questions And Answers (Verified And Updated) Taking advantage of ill-informed consumers through excessively high fees, misrepresented loan terms, frequent refinancing that does not benefit the borrower and other prohibited acts is called __________________________. - answerPredatory Lending. RESPA-Real Estate Settlement Procedures Act - answerThe Federal Statute that deals with the settlement of residential mortgage loans. RESPA's section 9 Prohibits - a...

MLO SAFE NMLS Test Practice Questions Taking advantage of ill-informed consumers through excessively high fees, misrepresented loan terms, frequent refinancing that does not benefit the borrower and other prohibited acts is called __________________________. - Predatory Lending. RESPA-Real Estate Settlement Procedures Act - The Federal Statute that deals with the settlement of residential mortgage loans. RESPA's section 9 Prohibits - Home sellers from requiring home buyers to purcha...

What law deals with credit, APR & Advertising of consumer loans? correct answers TILA Which regulation prohibits kickbacks? correct answers RESPA Which regulations require the lender to cancel PMI when the loan reaches 78% LTV? correct answers HPA-Homeowners Protection Act Which Regulation prohibits fee splitting? correct answers RESPA Regulation X is the letter used to describe which law? correct answers RESPA RESPA is the acronym used to describe which law? correct answers Real ...

which federal agency administers Regulation B implementing ECOA, Rgulation C implementig HMDA and Regulation Z implementing TILA? Answer FEDERAL RESERVE SYSTEM the clause in a mortgage that allows the lender to foreclose if the borrower defaults is the Answer Acceleration Clause at closing a borrower may deposit funds to establish reserves for which of the following? Answer TAXES AND INSURANCE in a qualification of an applicant who receives child support and alimony Answer CHILD SUPPORT...

Equal Credit Opportunity Act(ECOA) (Regulation B), Questions and answers/ Equal Credit Opportunity Act (ECOA). - -What does ECOA mean? The Consumer Financial Protection Bureau (CFPB) - -Who enforces ECOA? that creditors do not discriminatewhen granting credit - they must "Be Equal". - -ECOA is regulation "B" and it requires what? a "credit application". - -ECOA primarily deals with what? race, color, religion, national origin, sex, marital status, age (provided the applicant has a...

NMLS SAFE EXAM QUESTIONS WITH SOLUTIONS What does TILA stand for? Truth-In-Lending Act, Regulation Z What is a HELOC loan? a secured loan in that you are borrowing against the equity that has been built in your house What is a REFI loan? LTV stands for Loan to Value Define PMI and state what the acronym stands for. Private mortgage insurance- on conventional loans Define one time variable funding fee and people in what situations is it waived for? Dis...

Taking advantage of ill-informed consumers through excessively high fees, misrepresented loan terms, frequent refinancing that does not benefit the borrower and other prohibited acts is called __________________________. - Predatory Lending. RESPA-Real Estate Settlement Procedures Act - The Federal Statute that deals with the settlement of residential mortgage loans. RESPA's section 9 Prohibits - Home sellers from requiring home buyers to purchase title insurance from a particular company...