Fcra ecoa respa - Study guides, Class notes & Summaries

What are the penalties for violation of RESPA/Section 8 - Answer-Section 8 of RESPA prohibits referral fees and other forms of kickbacks/fee splitting. Penalties include fines of up to 10,000 and up to one year in prison Disclosures due within three business days of loan application - Answer-Loan Estimate Your Home Loan Toolkit: A Step By Step Guide CHARM Booklet Variable-rate program disclosures Home equity plan disclosures Notice of Right to Receive an Appraisal Report What can resu...

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

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

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

NMLS Flashcards 2024 Questions and Answers Graded A+ -AfBA/ABA stands for? -What is it? -Affiliated Business Arrangement -If referring client to another business of yours (1%) then you must disclose ASAP Other ways to say "Doc Signing" -Loan consummation -Loan Settlement -Loan Closing Brainpower Read More Previous Play Next Rewind 10 seconds Move forward 10 seconds Unmute 0:11 / 0:15 Full screen What is an escrow account? -account holding money for insurance...

NMLS Practice Exam Questions and A RESP does not apply to: a) Loans secured by a lien on a principal dwelling b) Federally related mortgage loans c)Subprime mortgage loans d)Loans for business, commercial and agricultural purposes - Answer-d) Loans for business, commercial and agricultural purposes Under the Fair Credit Reporting Act, which of the following entities has the burden of protecting a consumer's privacy when his/her credit information is being reported? a) Credit repor...

MLO SAFE NMLS SAFE TEST PRACTICE QUESTIONS | LATEST VERSION | 2024/2025 | ALREADY PASSED __________________ requires that a borrower is notified ___________ days prior to the effective date of the loan servicing transfer. RESPA (Real Estate Settlement Procedures Act), 15 days prior ________________________ is another name for Section 114 of FACTA and also amends FCRA. The Red Flag Rules A ______________ buyer is a person who gets paid for the use of their name and credit history i...

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...

S.A.F.E Mortgage Loan Originator Exam Study Guide 2023 with complete solution GLBA Gramm-Leah-Bliley Act FTC Federal Trade Commission FCC Federal Communications Commission NPI Non-public Personal Information Consumer Individual who obtains financial services for personal use Customer Continuing relationship with a financial institute EBR Established Business Relationship FACTA Fair Credit Reporting Act (Original FCRA) FHA Fair Housing Act & Federal Housing Administration ECO...

Federal Mortgage-Related Laws for SAFE MLO TEST fully solved 2023Regulation B - correct answer ECOA (Equal Credit Opportunity Act) Regulation C - correct answer Home Mortgage Disclosure Act (HMDA) Regulation X - correct answer Real Estate Settlement Procedures Act (RESPA) Regulation V - correct answer Fair Credit Reporting Act (FCRA) Regulation N - correct answer Mortgage Acts and Practices Ad Rule (MAPS) False Advertising protections. N= NO FALSE ADVERTISING of mortgage ads. Nati...