Nmls st - Study guides, Class notes & Summaries

A lender has how many days to refund excessive variances on a Closing Disclosure? correct answers 60 days Lender has how many days after settlement to refund any portion of charges on the HUD-1 that exceeded the acceptable variance correct answers 30 days TILA disclosure must be given to the applicant within how many days after receiving the signed loan application for a reverse mortgage correct answers 3 business days Truth in lending disclosure must be delivered within how many busine...

NMLS SAFE EXAM STUDY GUIDE | Questions with 100% Correct Answers | Latest Update 2024 | Verified

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Nmls Study Guid1 Questions and answers latest update

What does TILA stand for? - Truth-In-Lending Act, Regulation Z What is a HELOC loan? - a secured loan in that you are borrowing against the equity that has been built in your house What is a REFI loan? - LTV stands for - Loan to Value Define PMI and state what the acronym stands for. - Private mortgage insurance- on conventional loans Define one time variable funding fee and people in what situations is it waived for? - Disabled veterans and surviving spouses. USDA loans are also calle...

NMLS SAFE Exam Study Guide Regulation Z - ANSWER-Enforced by Consumer Financial Protection Bureau (CFPB), covers the Consumer Protection Act and the Truth in Lending Act (TILA) Consumer Protection Act - ANSWER-Disclosures of terms of credit Truth in Lending Act (TILA) - ANSWER-Enforced by the Federal Reserve System, must contain nominal interest rates, loan points and discount points, finance charges, amount financed, annual percentage rate (APR) Nominal Interest Rate - ANSWER-Inte...

NMLS Study Guide- FEDERAL MORTGAGE-RELATED LAWS fully solved 2023 updatedDodd-Frank Act - correct answer Which federal act created the Consumer Financial Protection Bureau? QUESTION RATIONALE Title X of the Dodd-Frank Act creates the Consumer Financial Protection Bureau (CFPB) as an independent entity with rule-making and enforcement authority over many consumer financial laws. RESPA (Real Estate Settlement Procedures Act) - correct answer The Consumer Financial Protection Bureau on Octob...