Ecoa reg b - Study guides, Class notes & Summaries

NMLS Test Questions with accurate answers, Graded A. 2022/2023. Document Content and Description Below NMLS Test Questions with accurate answers, Graded A. 2022/2023. If an application for credit is DENIED based on the appraisal under ECOA (Reg B), how many days does the borrower have to request a copy and how many days does the lender have to deliver? - The borrower has 90 to request and the lender as 30 days to deliver. Appraisal equals? - Value What law allows the borrower to challenge the ...

NMLS SAFE EXAM PREP QUESTIONS AND ANSWERSNMLS SAFE EXAM PREP QUESTIONS AND ANSWERS PMI - Answer-Private mortgage insurance TILA deals with - Answer-advertising of loans, cerdit, APR PMI protects who - Answer-The Lender SAFE - Answer-Secure And Fair Enforcement Act HERA - Answer-Housing and Economic Recovery Act HERA created what act - Answer-SAFE Act FCRA - Reg V - Answer-Fair Credit Reporting Act

ECOA - REG B Equal Credit Opportunities Act If App for Cedit is Denied based on Appraisal, Borrower has 90 days to request a copy then Lender has 30 days to deliver HMDA - REG C Home Mortgage Disclosure Act Found in: Section 10 of 10-03 Loan App Government Monitoring Section Eliminates / Identifies Possible Discrimination RESPA - REG X Real Estate Settlement Procedures Act TIL/TILA - REG Z Truth in Lending Act (2015) Deals with: (Of Consumer Loans) Credit ...

Loan Officer – NMLS Questions and Answers Graded A+ Document Content and Description Below Loan Officer – NMLS Questions and Answers Graded A+ ECOA - REG B Equal Credit Opportunities Act If App for Cedit is Denied based on Appraisal, Borrower has 90 days to request a copy then Le nder has 30 days to deliver HMDA - REG C Home Mortgage Disclosure Act Found in: Section 10 of 10-03 Loan App Government Monitoring Section Eliminates / Identifies Possible Discrimination RESPA - REG X Real Estate ...

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 servicer ...

If an application for credit is DENIED based on the appraisal under ECOA (Reg B), how many days does the borrower have to request a copy and how many days does the lender have to deliver? Correct Answer: The borrower has 90 to request and the lender as 30 days to deliver. Appraisal equals? Correct Answer: Value What law allows the borrower to challenge the value stated in the appraisal? Correct Answer: ECOA (Reg B), Equal Credit Opportunity Act What is ECOA? Correct Answer: Equal Cr...

Federal Mortgage Related Law question and answers graded A+ 2023Real Estate Settlement Procedures Act - correct answer Regulation X 1974 RESPA - correct answer Real Estate Settlement Procedures Act Equal Credit Opportunity Act - correct answer Regulation B 1974 ECOA - correct answer Equal Credit Opportunity Act Truth-in-Lending Act - correct answer Regualtion Z 1968 TILA - correct answer Truth-in-Lending Act Truth-in-Lending refers to Advertising in what ways? - correct answer ...

NMLS Laws and Regulations Latest Updated 2022 Rated A Document Content and Description Below NMLS Laws and Regulations Latest Updated 2022 Rated A CFPB Consumer Financial Protection Bureau What does the CFPB do? Regulates RESPA, TILA, ECOA, and HMDA FTC Federal Trade Com mission 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 bor...

Reg B - ANSWER ECOA Reg C - ANSWER HMDA Reg G - ANSWER SAFE - registered Reg H - ANSWER SAFE - licensed Reg N - ANSWER MAP Rule Reg P - ANSWER GLB Act Reg V - ANSWER FCRA Reg X - ANSWER RESPA Reg Z - ANSWER TILA LE - ANSWER Requires business days to include all days open Does count for business days for CD include Saturdays? - ANSWER No - requires business days to include all but Sun/Holidays Elements of a Completed Application - ANSWER Name Address Subject pro...

ECOA - REG B - Answer - Equal Credit Opportunities Act If App for Cedit is Denied based on Appraisal, Borrower has 90 days to request a copy then Lender has 30 days to deliver HMDA - REG C - Answer - Home Mortgage Disclosure Act Found in: Section 10 of 10-03 Loan App Government Monitoring Section Eliminates / Identifies Possible Discrimination RESPA - REG X - Answer - Real Estate Settlement Procedures Act TIL/TILA - REG Z - Answer - Truth in Lending Act (2015) Deals with: ...