Respa regulation x - Study guides, Class notes & Summaries
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CHAMPIONS REAL ESTATE FINANCE GRADED A+ ALREADY PASSED 2023
- Exam (elaborations) • 22 pages • 2023
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Loan-to-Value Ratio (LTV) - correct answer The percentage of the lesser of the appraised value or sales price that the lender will lend. 
 
ex: If a borrower is approved for an 80% loan, it means that the lender will loan up to 80% of the sales price or appraised value, whichever is lower. 
 
Package Mortgage - correct answer Includes both real and personal property ( fixtures and furnishings) 
 
Blanket Mortgage - correct answer Covers more than one piece of property. 
 
Wraparound Mortgage - c...
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SAFE Mortgage Loan Originator Test - National Component with Uniform State Content Questions and Answers Already Passed
- Exam (elaborations) • 59 pages • 2024 Popular
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SAFE Mortgage Loan Originator Test - 
National Component with Uniform State 
Content Questions and Answers Already 
 
Passed 
 
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 p...
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Barney Fletcher Exam 2023 with 100% correct answers
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A 40 unit apartment building rented units for $300 per month. The annual gross rent multiplier was 10. What was the value? 
 
A. $120,000 
B. $144,000 
C. $1,200,000 
D. $1,440,000 
D. $1,440,000 
 
40 x $300 per month x 12 months = annual rent of $144,000 x an annual multiplier of 10 = $1,440,000 
 
 
 
A seller listed property for sale. There were a limited number of houses available in the area. There were also a great number of buyers interested in purchasing homes in that area. What would M...
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NMLS Test-Affinity Questions 100% Solved Correc
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What law deals with credit, APR & Advertising of consumer loans? - correct answer TILA 
Which regulation prohibits kickbacks? - correct answer RESPA 
Which regulations require the lender to cancel PMI when the loan reaches 78% LTV? - correct 
answer HPA-Homeowners Protection Act 
Which Regulation prohibits fee splitting? - correct answer RESPA 
Regulation X is the letter used to describe which law? - correct answer RESPA 
RESPA is the acronym used to describe which law? - correct answer Real Est...
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NMLS Laws and Regulations Exam Questions with Complete Solutions
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NMLS Laws and Regulations Exam Questions with Complete Solutions 
 
Who oversees RESPA? - Answer-(CFPB) Consumer Financial Protection Bureau 
 
How long must records be kept under RESPA? - Answer-5 years 
(RESPA has 5 letters= 5 letters of record keeping) 
 
What are the penalties for violating RESPA? - Answer-$10k, 1 yr in prison OR both 
(5 years x 2= $10,000 fine) 
 
TILA - Answer-Truth in Lending Act 
 
What does TILA do? - Answer-• part of the Federal Consumer Protection Act and lays out...
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MORTGAGE LOAN ORIGINATOR EXAM 2024
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MORTGAGE LOAN ORIGINATOR EXAM 2024 
 
 
What does RESPA stand for? - correct answer The Real Estate Settlement Procedures Act (Regulation X) 
 
What does ECOA stand for? - correct answer Equal Credit Opportunity Act (Regulation B) 
 
What does TILA stand for? - correct answer Truth In Lending Act (Regulation Z) 
 
What does TRID stand for? - correct answer TILA-RESPA Integrated Disclosure Rule (a.k.a. "Know Befo
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SAFE NMLS Exam Prep-Questions With Complete Answers 2024.
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SAFE NMLS Exam Prep-Questions With Complete Answers 2024. 
Real Estate Settlement Procedures Act (RESPA) is implemented as: - correct answer A. Regulation B 
B. Regulation X 
C. Regulation A 
D. Regulation Z 
 
B. 
 
Which government agency enforces the RESPA regulations? - correct answer A. CFPB 
B. FCC 
C. FHA 
D. FTC 
 
A. 
 
RESPA is concerned with: - correct answer A. Kickbacks 
B. Credit reports 
C. Triggering terms in ads 
D. U.S. security 
 
A. 
 
The Good Faith Estimate/Loan Estimate...
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SAFE NMLS Exam Prep Questions and Answers 100% Correct
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SAFE NMLS Exam Prep Questions and Answers 100% Correct 
 
SAFE NMLS Exam Prep Questions and Answers 100% Correct 
 
SAFE NMLS Exam Prep Questions and Answers 100% Correct 
 
SAFE NMLS Exam Prep Questions and Answers 100% Correct 
 
Real Estate Settlement Procedures Act (RESPA) is implemented as: - ANSWER-A. Regulation B 
B. Regulation X 
C. Regulation A 
D. Regulation Z 
 
B. 
 
Which government agency enforces the RESPA regulations? - ANSWER-A. CFPB 
B. FCC 
C. FHA 
D. FTC 
 
A. 
 
RESPA is con...
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NMLS Laws And Regulations Exam Questions 2024.
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NMLS Laws And Regulations Exam Questions 2024. 
CFPB - correct answer Consumer Financial Protection Bureau 
 
What does the CFPB do? - correct answer Regulates RESPA, TILA, ECOA, and HMDA 
 
FTC - correct answer Federal Trade Commission 
 
What does the FTC do? - correct answer Monitors Red Flag Rules 
 
RESPA - correct answer Real Estate Settlement Procedures Act 
 
What does RESPA do? - correct answer •Protects homeowners of Single, 1-4 family dwellings, condos, & homes manufactured on lot. ...
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SAFE NMLS Exam Prep 2023 with 100% correct answers
- Exam (elaborations) • 122 pages • 2023
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Real Estate Settlement Procedures Act (RESPA) is implemented as: - correct answerA. Regulation B 
B. Regulation X 
C. Regulation A 
D. Regulation Z 
 
B. 
 
Which government agency enforces the RESPA regulations? - correct answerA. CFPB 
B. FCC 
C. FHA 
D. FTC 
 
A. 
 
RESPA is concerned with: - correct answerA. Kickbacks 
B. Credit reports 
C. Triggering terms in ads 
D. U.S. security 
 
A. 
 
The Good Faith Estimate/Loan Estimate must be sent to the borrower within how many business days of re...
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