Who oversees respa - Study guides, Class notes & Summaries

CFPB correct answers Consumer Financial Protection Bureau What does the CFPB do? correct answers Regulates RESPA, TILA, ECOA, and HMDA FTC correct answers Federal Trade Commission What does the FTC do? correct answers Monitors Red Flag Rules RESPA correct answers Real Estate Settlement Procedures Act What does RESPA do? correct answers •Protects homeowners of Single, 1-4 family dwellings, condos, & homes manufactured on lot. •Educates borrowers costs of loan • Eliminates ...

Real Estate Exam AZ with Answers [100% PASS] /verified/ Recission *Ans* Legal remedy of canceling, terminating or annulling a contract and restoring the parties to their original positions. Encumbrance *Ans* A claim against title or a limitation on use. Puffing *Ans* Exaggerated statement or opinion by the broker. ADWR *Ans* Arizona Department of Water Resources. Agency that oversees Active Management Areas and issues the Certificated of Assured Water Supply. Capitalization *Ans* Appr...

HUD Housing Counselor Module 4.1 & 4.2 | 100% Correct Answers A potential homebuyer with a minimal savings for a down payment and a low credit score is most likely to qualify for which mortgage? - United States Department of Agriculture (USDA) - Federal Housing Administration (FHA) - Fannie Mae - Freddie Mac - Answer️️ -Federal Housing Administration (FHA) Which is the most significant benefit of using a real estate agent? - Marketing the home online - Obtaining a home inspection ...

HUD Exam- Homeownership Verified Answers Which factor is best for housing counselors to use when determining how much a client can afford to spend on purchasing a home? A. Debt to-income ratios B. Annual gross income C. Savings D. Options A, B, C E. None of the above D. Options A, B, and C A person or company that makes loans for real estate purchases. "Loan officer" is a related term that refers to a representative of a lending or mortgage company who is responsible for sol...

NMLS Laws and Regulations Question and answer already solved 2023CFPB Consumer Financial Protection Bureau What does the CFPB do? Regulates RESPA, TILA, ECOA, and HMDA FTC Federal Trade Commission What does the FTC do? Monitors Red Flag Rules RESPA Real Estate Settlement Procedures Act What does RESPA do? •Protects homeowners of Single, 1-4 family dwellings, condos, & homes manufactured on lot. •Educates borrowers costs of loan • Eliminates kickba...

Prepxl practice test 2: Questions and answers, rated A+ Under RESPA, the servicer may require a borrower to pay into an escrow account to cover disbursements that are unanticipated or disbursements made before the borrower's monthly payments are available in the account, a cushion or reserve that must be no greater than _____ of the estimated total annual disbursements from the escrow account. - One half - One third - One sixth - One twelfth - -One sixth. Under RESPA, a lender ma...

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...

Maryland Licensing Questions and Answers Already Passed Under the Secondary Mortgage Loan Law, a consumer has the right to limit origination fees on which of the following? Secondary mortgages A borrower's gross monthly income and assets may be verified based on a review of third-party written documentation, including each of the following, except: Employer reference letter The Maryland's Finder's Fee Law has been included in the Maryland Code since what year? 1979 Which of the following ...

CFPB Correct Answer: Consumer Financial Protection Bureau What does the CFPB do? Correct Answer: Regulates RESPA, TILA, ECOA, and HMDA FTC Correct Answer: Federal Trade Commission What does the FTC do? Correct Answer: Monitors Red Flag Rules RESPA Correct Answer: Real Estate Settlement Procedures Act What does RESPA do? Correct Answer: •Protects homeowners of Single, 1-4 family dwellings, condos, & homes manufactured on lot. •Educates borrowers costs of loan • Elimi...

RealestateU Texas Real Estate Finance Questions With Complete Solutions 100%Solved The economy generally grows when which of the following occurs...? There is an increase in the money supply There is a decrease in the money supply When the money supply remains even A decrease in the population - correct answer...There is an increase in the money supply Money that is easily obtainable is considered...? M1 M2 M3 M4 - correct answer...M1 The supply of less liquid money is consi...