Redlining - Study guides, Class notes & Summaries

What is the act called of denying mortgages to applicants from a certain area based on factors other than financial qualifications? - ️️Redlining What is the process of estimating the value of real property by using the rate of return and the annual net income? - ️️Capitalization What is a type of contract in which two parties are legally bound to act? - ️️Bilateral What is the name of the party who acquires the title to real property in a deed? - ️️Grantee What is one wor...

When is a new Property Manager required to complete their required CE hours by? → Oct 31st / 2nd renewal date When a property manager decides to not offer their services predominately in a Jewish area of town, this illegal practice is called ? → Redlining Management personnel who reside at the property are called ? → Site Managers When is the move-in condition report NOT required ? → When there is no security deposit collected law 70-25-206 1 | P a g e | © copyright 2024/2...

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? - TILA What type of scam entails homeowners who are encouraged to refinance their property over and over until little or no equity remains? - Loan flipping or churning After a loan closing, funds are disbursed. When are the funds disbursed for an owner-occupied, residential refinance? - After 3 business-day rescission period What is the adjustab...

What kind of life insurance product covers children under their parent's policy? Family Maintenance rider Term rider Family Income rider Payor benefit - ANSWER Term Rider Under a trustee group life policy, who would be eligible for a certificate of coverage? Corporation Employee Employer Labor union - ANSWER employee A producer must report to the Commissioner of Insurance any administrative action or criminal charges taken against the producer within __ days of the fin...

Which of the following practices would most likely deteriorate the economic status of a neighborhood? Select one: A. Redlining B. Steering C. Overdevelopment of property D. Bulk zoning - (fair housing law

MLO – Ethics Questions and Answers | Latest Version | 2024/2025 | Already Passed __________ occurs when a lender denies services, either directly or indirectly, to a specific group of people, based on a property's location. - Redlining - False and deceptive advertisement - Blockbusting - Foreclosure deceit - Redlining ***Considered a form of discrimination, redlining occurs when a lender denies services, either directly or indirectly, to a specific group of people, bas...

Types of Credit Used Correct Answer: Student loan or credit cards only FAKO scores Correct Answer: purchase score which are educational score Fair Credit Reporting Act FCRA Correct Answer: what is in file/dispute/remove 30 days/remove bad 7 yrs/bk 10 yrs/access limited/damages from violators/state rights Fair and Accurate Credit Transactions Act FACTA Correct Answer: free cbrs/fraud alert/truncate cc #s Fair Credit Billing Act (FCBA) Correct Answer: dispute bill error/mail 60 da...

PES Exam 2 Question and answers rated A+PES Exam 2 Redlining - correct answer Fair Housing Act was passed in what year? - correct answer 1968 Fair Housing Act of 1968 - correct answer four pathways linking housing and health - correct answer 1. Stability 2. Safety & quality 3. Affordability 4. Neighborhood health effects from housing stability - correct answer health effects from housing quality & safety - correct answer health effects from ho

HUD Certification Exam Questions and Answers Already Passed Deed Restrictions Legally enforceable terms that govern the use of real estate Redlining The practice of refusing to make residential loans or imposing more onerous terms on any loans made because of the predominant race, color, national origin, religion, sex, disability, or familial status of the area's residents. Civil Rights Act of 1968 Following the assassination of Dr. Martin Luther King Jr., Congress passed what monumental piec...

Gold Coast schoolReal property - correct answer Physical land and improvements together with legal rights tobowj or use a property accretion - correct answer Increase in land area as moving water deposits soil in other than its original location Security deposit - correct answer 15 days if no intention for claim Redlining - correct answer A discriminatory real estate practice in North America in which members of minority groups are prevented from obtaining money to purchase homes or...