The purposes of respa are - Study guides, Class notes & Summaries

SAFE Mortgage Loan Originator Test - National Component with Uniform State Content Exam Questions With Verified Answers What does UST stand for? - answerUniform State Test Who does the CFPB protect? - answerThe Consumer Financial Protection Bureau protects consumers in the financial marketplace. What does the CFPB do? - answerCFPB is now in charge of implementing and enforcing most of the provisions of federal lending laws that relate to protecting consumers while they are shopping for,...

NMLS PRACTICE TEST EXAM PROFIENCY HARD QUESTIONS 2022- 2024 / NATIONWIDE MORTGAGE LICENSING SYSTEM PRACTICE TEST HARD QUESTIONS WITH CORRECT ANSWERS|53% AND ABOVE PASSRATE GUARANTEE MUST NOT MISS  FEDERAL MORTGAGE RELATED LAW  UNIFORM STATE CONTENT  GENERAL MORTGAGE LAW  MORTGAGE LOAN ORIGINATION  ETHICS An annual escrow analysis is used to do which of the following? A. Ensure the loan is properly amortized B. Prevent escrow overages C. Reduce burden on the servi...

Civil Rights Act of 1866 Correct Answer Federal law granting citizenship to former slaves; passed over Johnson's veto. (Race and Color) Fair Housing Act of 1968 Correct Answer banned discrimination in the rental or sale of housing (Race, color, religion, national origin) Housing and Community Development Act of 1974 Correct Answer added gender (sex) to the protected classes Fair Housing Amendments Act of 1988 Correct Answer Added Disability and familial status to protected classes. ...

HUD Housing Counseling Exam Questions and Answers 100% Pass Civil Rights Act of 1866 - Correct Answer ️️ -Federal law granting citizenship to former slaves; passed over Johnson's veto. (Race and Color) Fair Housing Act of 1968 - Correct Answer ️️ -banned discrimination in the rental or sale of housing (Race, color, religion, national origin) Housing and Community Development Act of 1974 - Correct Answer ️️ -added gender (sex) to the protected classes Fair Housing Amendments ...

RMLO - Champions School of Real Estate Questions and Correct Answers 2024 A market for the purchase and sale of existing mortgages designed to provide greater liquidity for selling mortgages is called the ________. - Answer -secondary market The Federal agency established to restore Fannie Mae and Freddie Mac to a sound and solvent financial condition is _____. - Answer -Federal Housing Finance Agency (FHFA) The ____ guarantee allows mortgage lenders to obtain a better price for their loan...

Real Estate Settlement Procedures Act (RESPA) - to protect consumers from abusive lending practices. General data - is information about a property's location. This could include the city, region, and neighborhood in which the property is situated. The appraisal report is usually paid by - the buyer Specific data - information regarding the property itself. What types of data do Appraisers use? - BOTH Specific Data and General Data The appraiser that will complete the appraisal r...

What does UST stand for? Uniform State Test Who does the CFPB protect? The Consumer Financial Protection Bureau protects consumers in the financial marketplace. What does the CFPB do? CFPB is now in charge of implementing and enforcing most of the provisions of federal lending laws that relate to protecting consumers while they are shopping for, securing, and paying off mortgages. What is the purpose of RESPA? (3 things) a.Protect consumers from excessive settlement cost...

Colorado psi real estate practice test 100% correct Legal descriptions using the government survey system are NOT generally used in - Correct Answer ️️ -the original 13 states. Real property can be converted to personal property by - Correct Answer ️️ - severance A homeowner is willing to let his neighbor park an RV in his backyard. He does NOT want to make the permission permanent in case he dislikes others who might move next door in the future. What should he give his neighbor?...

Florida Real Estate STATE exam Questions and Answers 100% Pass The best protection that the public has during a Real Estate transaction is (are) A. The national and state association of REALTORS B. The punishment of licensees dealing dishonesty C. the high ethical standards of real estate agents D. FREC and the license law - Correct Answer ️️ -D. FREC and the license law A group license A. allows a broker to have a branch office B. allows a sales associate to work for more than one ...

National Real Estate Exam 2024 Questions and Answers Already Passed When payments are made on amortized mortgage loans, the debt service includes Payment of principal, interest, taxes, and insurance on the mortgaged property A couple bought their first home, quantifying for a 30-year loan. The lender required regular, equal payments of sufficient size and number to pay all interest due on the loan and reduce the amount owed to zero by the loan's maturity date.This is most likely A ful...