What does ecoa stand for - Study guides, Class notes & Summaries

NMLS 2024 Exam Questions with Correct A What law deals with credit, APR & advertising of consumer loans? - Answer- TILA/REGULATION Z Which regulation prohibits kickbacks? - Answer-RESPA Which regulations requires the lender to cancel PMI when the loan reaches 78% LTV? - Answer-HPA - Homeowners Protection Act Which regulation prohibits fee splitting? - Answer-RESPA Regulation X is the letter used to describe which Law? - Answer-RESPA RESPA is the acronym used to describe which law...

NMLS TEST-Affinity 100% Correct Solved What law deals with credit, APR & Advertising of consumer loans? - Correct Answer️️ -TILA Which regulation prohibits kickbacks? - Correct Answer️️ -RESPA Which regulations require the lender to cancel PMI when the loan reaches 78% LTV? - Correct Answer️️ -HPA-Homeowners Protection Act Which Regulation prohibits fee splitting? - Correct Answer️️ -RESPA Regulation X is the letter used to describe which law? - Correct Answer️️ -RESPA...

What law deals with credit, APR & Advertising of consumer loans? correct answers TILA Which regulation prohibits kickbacks? correct answers RESPA Which regulations require the lender to cancel PMI when the loan reaches 78% LTV? correct answers HPA-Homeowners Protection Act Which Regulation prohibits fee splitting? correct answers RESPA Regulation X is the letter used to describe which law? correct answers RESPA RESPA is the acronym used to describe which law? correct answers Real ...

What does RESPA stand for? - The Real Estate Settlement Procedures Act (Regulation X) What does ECOA stand for? - Equal Credit Opportunity Act (Regulation B) What does TILA stand for? - Truth In Lending Act (Regulation Z) What does TRID stand for? - TILA-RESPA Integrated Disclosure Rule (a.k.a. "Know Before You Owe") What does CFPB stand for? - Consumer Financial Protection Bureau What does NMLS stand for? - Nationwide Mortgage Licensing System and Registry What is SAFE and UST? - Secure...

NMLS MLO Exam Questions and answers, rated A+ What must a borrower do to avoid having late payments reported to a credit bureau? - -Pay within 30 days of due date Max penalty if a borrower is required to use a specific title company or settlement agent? - -3 times the fee What should not be over-weighted in an analysis of borrower repayment capacity? - -Credit scores Max prepayment penalty on residential mortgages in the first year of the loan - -3% What must condominium associations ...

MLO SAFE NMLS Safe Test Practice Questions And Answers (Verified And Updated) Taking advantage of ill-informed consumers through excessively high fees, misrepresented loan terms, frequent refinancing that does not benefit the borrower and other prohibited acts is called __________________________. - answerPredatory Lending. RESPA-Real Estate Settlement Procedures Act - answerThe Federal Statute that deals with the settlement of residential mortgage loans. RESPA's section 9 Prohibits - a...

Mortgage Loan Originator, Exam Review Questions and answers/ What does RESPA stand for? - -The Real Estate Settlement Procedures Act (Regulation X) What does ECOA stand for? - -Equal Credit Opportunity Act (Regulation B) What does TILA stand for? - -Truth In Lending Act (Regulation Z) What does TRID stand for? - -TILA-RESPA Integrated Disclosure Rule (a.k.a. "Know Before You Owe") What does CFPB stand for? - -Consumer Financial Protection Bureau What does NMLS stand for? - -Nationwid...

Mortgage Loan Originator Exam Latest Update...

ECOA EXAM Questions and answers, VERIFIED/ What does ECOA stand for? - -Equal Credit Opportunity Act What is the purpose of ECOA? - -to promote the availability of consumer credit to all applicants by prohibiting credit decision based on race, color, religion, national origin, gender, marital status, or age. Who is ECOA regulated by? - -CFPB What is the "Notice of Action Taken" disclosure? - -a creditor must provide a loan applicant with notifications of any of the following actions ...

URAR is the acronym for: 1. Uniform Residential Appraisal Report 2. Uniform Real Estate Appraisal Report 3. Universal Residential Appraisal Report - ANSWER-Correct answer is: 1 Uniform Residential Appraisal Report PR is the generally accepted acronym for: 1. Premium Title Report 2. Present Time Reclamation Association 3. Preliminary Title Report 4. Preliminary Tax Report - ANSWER-Correct answer is: 3 Preliminary Title Report PMI is the acronym for : 1. Preliminary Mortgage Invest...