And hmda - Study guides, Class notes & Summaries

A borrower signs the note and mortgage for a refinance on his principal residence on Thursday, Dec. 31. What is the earliest day the funds for this loan could be disbursed (assuming no bona fide financial hardship)? - Wednesday, Jan. 6 Who manages the National Do Not Call Registry? - Federal Trade Commission What federal legislation regulates credit reporting agencies and lenders concerning credit reporting? - FCRA What is not prohibited to be included in the loan terms for HOEPA covered i...

MORTGAGE LOAN OFFICER HMDA GLBA ECOA FCRA and FACTA QUESTIONS WITH CORRECT ANSWERS!!

Which of the following best describes a 2nd mortgage loan? (A) A conventional mortgage that is conforming (B) A conventional mortgage that is non-conforming (C) A conforming loan that is non-conventional (D) A non-conforming loan that is non-conventional correct answers(B) A conventional mortgage that is non-conforming WHY? Non-conforming because it is a Second Mortgage and that falls outside the Frannie Mae - Freddie Mac guidelines It is important to understand that a conforming lo...

MORTGAGE LOAN OFFICER HMDA GLBA ECOA FCRA and FACTA QUESTIONS WITH CORRECT ANSWERS!!

NMLS SAFE EXAM PREP QUESTIONS AND ANSWERS HMDA allows to see - Answer-where possible discrimination takes place Where is HMDA found - Answer-Section 10 of the 1003 loan app PMI - Answer-Private mortgage insurance TILA deals with - Answer-advertising of loans, cerdit, APR PMI protects who - Answer-The Lender SAFE - Answer-Secure And Fair Enforcement Act HERA - Answer-Housing and Economic Recovery Act HERA created what act - Answer-SAFE Act FCRA - Reg V - Answer-Fair Cre...

Prepxl Practice Test 3 Questions and Answers Latest (Verified Answers) $35,900. The down payment in this scenario will be $35,900. This is just enough to keep them at the $510,400 conforming loan limit which was adjusted January 1, 2020. 546,300-510,400 = 35,900. - In January of 2020, Wella and Kip agreed to purchase a home at a purchase price of $546,300. They would like to hold onto as much of their savings as they can, but they have chosen to make a down payment sufficient enough to ...

NMLS Mortgage Loan Originator UPDATED Exam Questions and CORRECT Answers ECOA - CORRECT ANSWER- Equal Credit Opportunity Act (Reg B) HMDA - CORRECT ANSWER- Home mortgage disclosure act (reg c) TILA - CORRECT ANSWER- Truth-In-Lending Act, Regulation Z FCRA - CORRECT ANSWER- Fair Credit Reporting Act - Regulation V

Purpose of HMDA: - (1) Provide public with info that will help show whether financial institutions are serving the housing credit needs of the neighborhoods and communities in which they are located; AND (2) Help public officials in targeting public investments from the private sector to areas where they are needed Covered Depository Institutions under HMDA - (1) *On the preceding DECEMBER 31ST*, had assets in excess of annually published FFIEC thresholds *(in excess of $44 MILLION -...

Purpose of HMDA: - ANSWER (1) Provide public with info that will help show whether financial institutions are serving the housing credit needs of the neighborhoods and communities in which they are located; AND (2) Help public officials in targeting public investments from the private sector to areas where they are needed Covered Depository Institutions under HMDA - ANSWER (1) *On the preceding DECEMBER 31ST*, had assets in excess of annually published FFIEC thresholds *(in excess of $44 M...

Nmls Safe Exam Prep With 100% Correct And Verified Answers ECOA - Reg B - Correct Answer-Equal Credit Opportunity Act HMDA - Reg C - Correct Answer-Home Mortgage Disclosure Act RESPA - Reg X - Correct Answer-Real Estate Settlement Procedures Act TILA - Reg Z - Correct Answer-Truth In Lending Act HPA - Correct Answer-Home-owner Protection Act PMI is required when - Correct Answer-Borrower puts less than 20% down ECOA deals with - Correct Answer-credit applications HMDA allow...