What does respa stand for Study guides, Class notes & Summaries

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

RESPA Exam Review Questions and answers, VERIFIED/ What does RESPA stand for? - -Real Estate Settlement Procedures Act What regulation does RESPA fall under? - -Regulation X Define RESPA - -protects consumers by regulating cost and business arrangement disclosures. What loans does RESPA exempt? - -Agriculture Business Commercial Temporary Time share 25 acres or more Who does RESPA impact? - -federally regulated mortgage loans are that secured by a first or subordinated lien on resi...

NMLS TEST-Affinity 100% Correct Solved What law deals with credit, APR & Advertising of consumer loans? - Correct Answer️️ -TILA Which regulation prohibits kickbacks? - Correct Answer️️ -RESPA Which regulations require the lender to cancel PMI when the loan reaches 78% LTV? - Correct Answer️️ -HPA-Homeowners Protection Act Which Regulation prohibits fee splitting? - Correct Answer️️ -RESPA Regulation X is the letter used to describe which law? - Correct Answer️️ -RESPA...

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,...

FREC 1 Exam Questions & Answers 2023/2024 What does RESPA stand for? What does it mean? - ANSWER-Real Estate Settlement Procedures Act. Getting someone qualified Wha is real estate brokerage? - ANSWER-Real estate brokerage is the business of bringing together buyers and sellers and owners and renters and completing real estate transactions (paid a fee or a commission for services) 5 major sales specialties - ANSWER-"Residential"- 4 or fewer residential units OR agricultural property o...

Mortgage Loan Originator Exam Latest Update...

FREC 1 Questions & Answers | 100% Correct Answers | Verified | Latest 2024 Version What does RESPA stand for? What does it mean? - Real Estate Settlement Procedures Act. Getting someone qualified Wha is real estate brokerage? - Real estate brokerage is the business of bringing together buyers and sellers and owners and renters and completing real estate transactions (paid a fee or a commission for services) 5 major sales specialties - "Residential"- 4 or fewer residential units OR a...

Mortgage Loan Originator Exam Latest Update...

NATIONAL FINANCE EXAM PREP | questions and answers 2023/24 Advantages of Real Estate Investment: (3 things) - Above average rate of return Tax benefits Land can never be depreciated. Disadvantages of Real Estate Investment: (3 things) - Not highly liquid The purchaser of investment property must be prepared to "invest" for the long haul Market conditions are changing all the time. What is the total amount of money remaining after all expenditures have been paid including taxes, oper...

NMLS Exam Review Questions and answers, VERIFIED/ -AfBA/ABA stands for? -What is it? - --Affiliated Business Arrangement -If referring client to another business of yours (1%) then you must disclose ASAP Other ways to say "Doc Signing" - --Loan consummation -Loan Settlement -Loan Closing What is an escrow account? - --account holding money for insurance/taxes -AKA "impound account" or "reverse account" -What's an MU4? -What are requirements? - --Individual application after NM...