Real estate settl Study guides, Class notes & Summaries

Riley's manager had a reasonable basis to believe Ms. Hamilton had failed to maintain hazard insurance and directed Riley to start the force placement procedures. Riley sent the required notices timely. After receiving the second notice, Ms. Hamilton provided a hazard insurance policy declarations page to the bank that verified she had a hazard insurance policy in place 60 days ago. Which option states one of Riley's appropriate next steps? A. Refund all force-placed insurance premium cha...

REAL ESTATE SETTLEMENT PROCEDURES ACT (RESPA) (CFPB) QUESTIONS AND ANSWES WITH SOLUTIONS 2024

Real Estate Settlement Procedures Act (RESPA) Questions and answers, VERIFIED/ True or False, RESPA applies to: Home purchase loans - -True True or False, RESPA applies to: All cash sales - -False True or False, RESPA applies to: Sale where the individual seller takes back a mortgage - -False True or False, RESPA applies to: Refinance - -True True or False, RESPA applies to: Rental Property Transaction - -False True or False, RESPA applies to: Equity line of credit - -True True or Fal...

Real Estate Settlement Procedures Act (RESPA), Questions and answers, VERIFIED/ RESPA Purpose - -allow consumers to obtain information on the costs of closing so that they can shop for settlement servicers and protect consumers from excessive settlement costs and unearned fees through mandatory disclosure requirements and established prohibited practices. RESPAS regulations are known as... - -Regulation X RESPA applies to.. - -federally-related mortgage loans (virtually every home loa...

Riley's manager had a reasonable basis to believe Ms. Hamilton had failed to maintain hazard insurance and directed Riley to start the force placement procedures. Riley sent the required notices timely. After receiving the second notice, Ms. Hamilton provided a hazard insurance policy declarations page to the bank that verified she had a hazard insurance policy in place 60 days ago. Which option states one of Riley's appropriate next steps? A. Refund all force-placed insurance premium cha...

Legal Aspects of Real Estate: Online Exam (First Tuesday) |100 Questions and Answers| 100% correct 1. Under the English legal system, legal disputes were settled: (Page 1) b) on a case-by-case basis before a judge. 2. Under Spanish civil law, legal disputes were settled by: (Page 1) d) pre-established statutes. 3. The federal and state governments are divided into the judicial and executive branches. (Page 2) c) legislative 4. Eminent domain the right of the government to: (Page 3) a) ...

NMLS – RESPA Question with complete solution 2023Real Estate Settlement Procedures Act (RESPA) will be administered and enforced by what agency: Consumer Financial Protection Bureau Real Estate Settlement Procedures Act (RESPA) insures that consumers throughout the nation are provided with more helpful information about what: The cost of the mortgage settlement and protected from unnecessarily high settlement charges caused by certain abusive practices. A required, standardized...