Equal credit opportunity - Study guides, Class notes & Summaries

NMLS Mortgage Loan Originator UPDATED Exam Questions and CORRECT Answers ECOA - CORRECT ANSWER- Equal Credit Opportunity Act (Reg B) HMDA - CORRECT ANSWER- Home mortgage disclosure act (reg c) TILA - CORRECT ANSWER- Truth-In-Lending Act, Regulation Z FCRA - CORRECT ANSWER- Fair Credit Reporting Act - Regulation V

NMLS Test Questions and Answers Graded A+ What is the pass rate for the NMLS Test and how long is it? 75% of 115 questions, 125 questions long with 10 ungraded What is the biggest thing to remember about taking the test? Read the questions twice, slowly, but do not take over 30 seconds per question the first time through. Brainpower Read More Previous Play Next Rewind 10 seconds Move forward 10 seconds Unmute 0:13 / 0:15 Full screen What is the requirement under Fa...

20-HR SAFE Comprehensive Mortgage Loan Originator Fundamentals HW 100% Pass Mortgage loan originators who make cold calls must comply with the requirements of the National Do-Not-Call rules. The loan originator needs to update any download of the registry at least every: 31 days 18 Months 7 days Year 31 Days The appraisal approach that is used as the best indicator of value for existing properties is: Similar property approach Fair market value approach Market data approac...

Which federal law requires that the Loan Estimate be provided to the borrower within three business days of the time of loan application is taken? - ANSWER-TILA What type of scam entails homeowners who are encouraged to refinance their property over and over until little or no equity remains? - ANSWER-Loan flipping or churning After a loan closing, funds are disbursed. When are the funds disbursed for an owneroccupied, residential refinance? - ANSWER-After 3 business-day rescission period W...

ECOA-Equal Credit and Opportunity Act. Questions and answers, VERIFIED/ According to Regulation B, when it comes to credit transactions, a creditor cannot discriminate: - - On the basis of the applicant's race, marital status, nationality, gender, age, or religion Against an applicant whose income is derived from a public assistance program Against an applicant who, in good faith, exercised his or her rights under the Consumer Credit Protection Act Factors that cannot be used to discri...

Fair Housing DC Latest Update Graded A+ Additional Penalties for Real Estate Licensees revoked, suspended, denied, or otherwise restricted. Civil Rights Act of 1866 Gave civil rights to newly freed slave Separate but Equal 1896 Decision made by congress to Plessy vs Ferguson Civil Rights Act of 1964 outlawed discrimination based on race, color, religion, sex, or national origin 7 protected classes race, color, religion, national origin, sex, familial status, handicap FHEO ...

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

mmission d. Louisiana Real Estate License Bureau - answerB Applicants have how long to find a sponsoring broker after passing the State exam? Select one: a. Must have broker before taking exam. b. Six months c. 90 days d. 60 days - answerc Every applicant for a license shall submit a sworn statement attesting that he/she has knowledge of an understands the provisions of: Select one: a. The Fair Housing Act of 1968 only b. The Louisiana Equal Housing Opportunity Act only c. Both the ...

HUD Housing Counselor Certification Practice Questions with 100% Correct Answers Which is the maximum recommended housing ratio for renting an apartment? - Correct Answer ️️ -30% Eligibility requirements for down-payment assistance programs include which factors? - Correct Answer ️️ -Income, home-buyer education, purchase price The client is considering an FHA mortgage. What is the upfront mortgage insurance premium (UFMIP) for an FHA mortgage? - Correct Answer ️️ -1.75% If ...

Mortgage loan originators who make cold calls must comply with the requirements of the National Do-Not-Call rules. The loan originator needs to update any download of the registry at least every: 31 days 18 Months 7 days Year correct answers31 Days The appraisal approach that is used as the best indicator of value for existing properties is: Similar property approach Fair market value approach Market data approach Neighborhood value approach correct answersMarket data approach ...