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

Hud Certification Housing Counselor Final Exam 2024 Which document is most important when working with a client to develop an initial budget as part of a Client Action Plan? Pay stub Retirement plan statement List of assets Current lease - CORRECT ANSWER-Pay stub A client would like purchase a home within one year. The client is motivated to increase household income as a way to save for a down payment and qualify for a loan. Which is the best solution for the client to reach this g...

NMLS Exam Questions With Answers Latest Updated 2023-2024 Graded A+. A lender has how many days to refund excessive variances on a Closing Disclosure? - ANSWER 60 days Lender has how many days after settlement to refund any portion of charges on the HUD-1 that exceeded the acceptable variance - ANSWER 30 days TILA disclosure must be given to the applicant within how many days after receiving the signed loan application for a reverse mortgage - ANSWER 3 business days Truth in lending disclo...

What is the purpose of Reg CC - correct answer To implement to Expedited Funds Availability Act and the Check 21 What did Check 21 Act do - correct answer Faciliate check truncation by authorizing substitue checks, Foster innovation in the check collection system without madating receipt of checks in electronic form, Improve the overall efficiency of the Nations Payments system. What is the purpose of the FFIEC? - correct answer Prescribe uniform principles, standards, and report forms for ...

HUD Certification Exam Questions and Answers 100% Pass Which document is most important when working with a client to develop an initial budget as part of a Client Action Plan? Pay stub Retirement plan statement List of assets Current lease - Correct Answer ️️ -Pay stub A client would like purchase a home within one year. The client is motivated to increase household income as a way to save for a down payment and qualify for a loan. Which is the best solution for the client to reac...

Xinnix SOAR Final questions and answers 100% verified. FNMA and FHLMC are what type of loan? - correct rming the main purpose of the Consumer financial protection bureau (CFPB) is to help consumers understand the terms of their agreements with financial companies - correct conventional loans are not insured by the federal government - correct Agency loans include FHA and VA loans - correct the proceeds of a loan for cash out refinance may be used by the borrower...

NMLS Exam Questions With Answers Latest Updated 2024 (Graded A+) A lender has how many days to refund excessive variances on a Closing Disclosure? - ANSWER 60 days Lender has how many days after settlement to refund any portion of charges on the HUD-1 that exceeded the acceptable variance - ANSWER 30 days TILA disclosure must be given to the applicant within how many days after receiving the signed loan application for a reverse mortgage - ANSWER 3 business days Truth in lending disclosure...

NMLS Exam Practice Questions With Answers - Latest Updated 2023-2024. Lender has how many days after settlement to refund any portion of charges on the HUD-1 that exceeded the acceptable variance - ANSWER 30 days TILA disclosure must be given to the applicant within how many days after receiving the signed loan application for a reverse mortgage - ANSWER 3 business days Truth in lending disclosure must be delivered within how many business days prior to closing a reverse mortgage - ANSWER ...

HUD Counseling Exam - Module 5 Avoiding Foreclosure SOLUTIONS 100% PASS what is a servicer? - ANSWER a company that handles all the administrative aspects of a loan from the closing to mortgage payoff, including handling all payments, escrow, and all documentation for records when was the most recent foreclosure crisis? - ANSWER 2007 what caused the most recent foreclosure process? - ANSWER 1. negative amortization 2. aggressive marketing of HELOC loans 3. subprime lending 4. q...

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 Laws and Regulations Exam Questions with Complete Solutions RESPA - Answer-Real Estate Settlement Procedures Act What does RESPA do? - Answer-•Protects homeowners of Single, 1-4 family dwellings, condos, & homes manufactured on lot. •Educates borrowers costs of loan • Eliminates kickbacks and referral fees (section 8) • Establishes rules for escrow What Regulation is RESPA? - Answer-Reg X (X-ray of my RESPAtory system) Who oversees RESPA? - Answer-(CFPB) Consumer Fin...