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which federal agency administers Regulation B implementing ECOA, Rgulation C implementig HMDA and Regulation Z implementing TILA? FEDERAL RESERVE SYSTEM the clause in a mortgage that allows the lender to foreclose if the borrower defaults is the Acceleration Clause at closing a borro...
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Añadir al carritowhich federal agency administers Regulation B implementing ECOA, Rgulation C implementig HMDA and Regulation Z implementing TILA? FEDERAL RESERVE SYSTEM the clause in a mortgage that allows the lender to foreclose if the borrower defaults is the Acceleration Clause at closing a borro...
Primary Mortgage Market Where credit institutions originate loans C. The maximum the rate can increase over the life of the loan When an ARM has rate caps of 5/2/6, the 6 refers to what? A. The maximum rate increase at the initial adjustment B. The start rate for the loan C. The maximum ...
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Añadir al carritoPrimary Mortgage Market Where credit institutions originate loans C. The maximum the rate can increase over the life of the loan When an ARM has rate caps of 5/2/6, the 6 refers to what? A. The maximum rate increase at the initial adjustment B. The start rate for the loan C. The maximum ...
A discount point is BEST described as a charge the borrower pays to: A.) A lender to decrease the interest rate on the mortgage loan B.) A mortgage broker at the time of application to obtain a favorable rate C.) The seller as part of the closing costs of a loan D.) A lender to ensure against ...
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Añadir al carritoA discount point is BEST described as a charge the borrower pays to: A.) A lender to decrease the interest rate on the mortgage loan B.) A mortgage broker at the time of application to obtain a favorable rate C.) The seller as part of the closing costs of a loan D.) A lender to ensure against ...
What law deals with credit, APR & advertising of consumer loans? TILA/REGULATION Z Which regulation prohibits kickbacks? RESPA Which regulations requires the lender to cancel PMI when the loan reaches 78% LTV? HPA - Homeowners Protection Act Which regulation prohibits fee spl...
Vista previa 3 fuera de 17 páginas
Añadir al carritoWhat law deals with credit, APR & advertising of consumer loans? TILA/REGULATION Z Which regulation prohibits kickbacks? RESPA Which regulations requires the lender to cancel PMI when the loan reaches 78% LTV? HPA - Homeowners Protection Act Which regulation prohibits fee spl...
Acceleration Clause Allows lenders to demand payment in full if the borrower defaults on the loan (can be construed as predatory lending) Alienation Clause (Due on Sale Clause) Says you must repay your mortgage if you sell your home to a new owner (loan is not assumable) Appraiser In...
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Añadir al carritoAcceleration Clause Allows lenders to demand payment in full if the borrower defaults on the loan (can be construed as predatory lending) Alienation Clause (Due on Sale Clause) Says you must repay your mortgage if you sell your home to a new owner (loan is not assumable) Appraiser In...
What law deals with credit, APR & advertising of consumer loans? TILA/REGULATION Z Which regulation prohibits kickbacks? RESPA Which regulations requires the lender to cancel PMI when the loan reaches 78% LTV? HPA - Homeowners Protection Act Which regulation prohibits fee spl...
Vista previa 3 fuera de 17 páginas
Añadir al carritoWhat law deals with credit, APR & advertising of consumer loans? TILA/REGULATION Z Which regulation prohibits kickbacks? RESPA Which regulations requires the lender to cancel PMI when the loan reaches 78% LTV? HPA - Homeowners Protection Act Which regulation prohibits fee spl...
A customer asks his mortgage broker for the name of a good title company. The broker has a list of several companies with whom she has done business with in the past. At what point, according to RESPA, must she give the customer an AfBA disclosure? If the referring party does not have an ownership ...
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Añadir al carritoA customer asks his mortgage broker for the name of a good title company. The broker has a list of several companies with whom she has done business with in the past. At what point, according to RESPA, must she give the customer an AfBA disclosure? If the referring party does not have an ownership ...
Lender The person who is responsible for ascertaining whether or not the Loan Estimate has been provided Terms of Repayment REG Z. Requires that an advertisement must include Proceeds will be used to construct a structure or manufactured home on the real property within two years fro...
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Añadir al carritoLender The person who is responsible for ascertaining whether or not the Loan Estimate has been provided Terms of Repayment REG Z. Requires that an advertisement must include Proceeds will be used to construct a structure or manufactured home on the real property within two years fro...
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