Act of mortgage fraud - Study guides, Class notes & Summaries

Pearson vue real estate Exam, Multiple Choice Questions And Correct Answers. If a licensee is paid a salary of $600 per month plus half of the office's 6% fee on all sales, what MUST the licensee's monthly sales be in order for the licensee to receive a total monthly income of $2,220? A. 27,000 B. 37,000 C. 54,000 D. 74,000 An agreement that restricts the use and occupancy of real estate, is part of a conveyance, and is binding on all subsequent buyers is called a(n): A. Agreement for...

Name Clas Dat : s: e: CHAPTER 01—THE BUSINESS OF BANKING 1. A bank is a not-for-profit organization. a. b. True False False 1 BNKG.CFFT.3.LO: 1.1.1 - LO: 1.1.1 ANSWER: POINTS: LEARNING OBJECTIVES: 2. All federally chartered banks must be corporations. a. True ANSWER: POINTS: LEARNING OBJECTIVES: b. False True 1 BNKG.CFFT.3.LO: 1.1.1 - LO: 1.1.1 3. Commercial banks offer their services only to businesses. ANSWER: POINTS: LEARNING OBJECTIVES: 5. Issuing credit cards is ...

Champions Real Estate Finance Exam (Latest 2024/ 2025 Update) 100% Correct Questions and Verified Answers| Grade A Q: All residential mortgage loan originators must register with Answer: NMLSR National Mortgage Licensing System & Registry Q: Who is responsible for affordable housing Answer: TDHCA Texas Department of Housing & Community Affairs Q: Who is applicable to all federally related mortgage loans Answer: RESPA Real Estate Settlement Procedure Act ...

Types of Credit Used Correct Answer: Student loan or credit cards only FAKO scores Correct Answer: purchase score which are educational score Fair Credit Reporting Act FCRA Correct Answer: what is in file/dispute/remove 30 days/remove bad 7 yrs/bk 10 yrs/access limited/damages from violators/state rights Fair and Accurate Credit Transactions Act FACTA Correct Answer: free cbrs/fraud alert/truncate cc #s Fair Credit Billing Act (FCBA) Correct Answer: dispute bill error/mail 60 da...

Deed Restrictions - Correct answer-Legally enforceable terms that govern the use of real estate Redlining - Correct answer-The practice of refusing to make residential loans or imposing more onerous terms on any loans made because of the predominant race, color, national origin, religion, sex, disability, or familial status of the area's residents. Civil Rights Act of 1968 - Correct answer-Following the assassination of Dr. Martin Luther King Jr., Congress passed what monumental piece of ...

SAFE-NMLS-MLO-CA Exam Study (FULL SET) ALREADY PASSED Fraud for profit is a complex scheme involving... multiple parties, including mortgage lending professionals, in a financially motivated attempt to defraud the lender of large sums of money. If a lender sells, transfers, or otherwise disposes of its interest in a mortgage and does not service the mortgage, the lender shall... provide a copy of the Closing Disclosure to the new owner or servicer of the mortgage as a part of the tr...

Wrongful or criminal deception intended to result in financial or personal gain is called: - Answer- fraud The Buyer and Seller Temporary Residential Lease forms may be used for a lease period not to exceed: - Answer- 90 days __________ extend above the surface without limitation. - Answer- air rights An example(s) of an appurtenance would be: - Answer- easements There is no upper limit on the value of a Texas homestead. - Answer- true A(n) __________ is one that combines some of ...

Texas Principles of Real Estate II (2024 / 2025) Exam | Questions and Verified Answers | 100% Correct Q: According to value a. Police power b. Ad valorem c. Taxation d. Escheat e. Condemnation Answer: B Q: The government retains the following rights in lands, EXCEPT: a. Eminent domain b. Allodial c. Police Power d. Taxation Answer: B Q: If a landowner sues the government in order to force it to buy his or her land, this is called: a. Reverse condemnation b. Forward condemnation c. Inverse condem...

UST TEXAS Exam Questions with Correct Answers The authority to regulate mortgage professionals in Texas arises from the following laws found in the Finance Code (Fin. Code): The Residential Mortgage Loan Company Licensing and Registration Act (the RMLC), Chapter 156 The Mortgage Banker and Residential Mortgage Loan Originator Act (the MBRA), Chapter 157 The Texas Secure and Fair Enforcement for Mortgage Licensing Act of 2009 (the Act), Chapter 180 Rules created to enforce those law...

NMLS S.A.F.E Exam Practice Questions Enhancing protection and reducing fraud by directing states to adopt minimum uniform standards for the licensing and registration of residential mortgage loan originators was the purpose of the federal act known as the: a. S.A.F.E. Act b. Federal Trade Act c. Consumer Financial Protection Act d. Dodd-Frank Act - a. S.A.F.E. Act Loan processors and underwriters may not: a. Communicate with consumers to obtain information necessary for loan pro...