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

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...

An appraisal can be completed by which of the following? A home inspector A real estate broker A licensed appraiser using USPAP standards A mortgage loan originator - ANSWERA licensed appraiser using USPAP standards What is a BPO? Broker Price Opinion Best Practice Organization Best Prospective Offer Beyond Present Opportunities - ANSWERBroker Price Opinion Which of the following is incorrect? Farming methods include Direct Mail and Just Listed Post Cards. Farming only invo...

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 paying off mortgages. What is the purpose of RESPA? (3 things) - a.Protect consumers from excessive settlement costs and unea...

HUD Certification 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 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 goal? Find a second job Bo...

CFPB Consumer Financial Protection Bureau What does the CFPB do? Regulates RESPA, TILA, ECOA, and HMDA FTC Federal Trade Commission What does the FTC do? Monitors Red Flag Rules RESPA Real Estate Settlement Procedures Act What does RESPA do? •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? Reg...

1.) Who does the CFPB protect? 2.) What does the CFPB do? - 1.) The Consumer Financial Protection Bureau protects consumers in the financial marketplace. 2.) 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 paying off mortgages. What is the purpose of RESPA? (3 things) - 1.) a.Protect consumers from excessive settlement costs and unearned fees b.Limit the amount...

SAFE Mortgage Loan Originator Test - National Component UPDATED Exam Questions and CORRECT Answers What does UST stand for? - Correct Answer- Uniform State Test Who does the CFPB protect? - Correct Answer- The Consumer Financial Protection Bureau protects consumers in the financial marketplace. What does the CFPB do? - Correct Answer- 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 s...

1.) Who does the CFPB protect? 2.) What does the CFPB do? - 1.) The Consumer Financial Protection Bureau protects consumers in the financial marketplace. 2.) 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 paying off mortgages. What is the purpose of RESPA? (3 things) - 1.) a.Protect consumers from excessive settlement costs and unearned fees b.Limit the amount...

mortgage Broker - Answer- Functions as a middleman between the borrower and the lender, negotiating, selling or arranging loans to be delivered to large investors Mortgage Banker - Answer- Provide their own funds for the purpose of providing mortgage financing Correspondent Lender - Answer- Smaller in scale then mortgage bankers or brokers, these lenders typically extended loans with their own funds at their own risk Origination - Answer- The process of creating a new mortgage loan U...

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. ...