Mip section 2 - Study guides, Class notes & Summaries

(Fair and Accurate Credit Transactions Act of 2003) FACTA Purpose is to... - ... address the problem of identity theft. To facilitate consumer's access to information retained by the CRAs, and to improve the accuracy of consumer reports. (FCRA) The National Consumer Assistance Plan (NCAP) aims to... - ...improve consumer experience, data accuracy, and quality. (HMDA) In addition to originations, reportable HMDA data includes... - - Loan Applications - Loan Denials - Loan Approvals - Loa...

NMLS SAFE EXAM Questions and answers, VERIFIED/ What does TILA stand for? - -Truth-In-Lending Act, Regulation Z What is a HELOC loan? - -a secured loan in that you are borrowing against the equity that has been built in your house What is a REFI loan? - - LTV stands for - -Loan to Value Define PMI and state what the acronym stands for. - -Private mortgage insurance- on conventional loans Define one time variable funding fee and people in what situations is it waived for? - -Disabled ...

NMLS SAFE EXAM 2024 Questions With Verified Answers What does TILA stand for? - answerTruth-In-Lending Act, Regulation Z What is a HELOC loan? - answera secured loan in that you are borrowing against the equity that has been built in your house What is a REFI loan? - answer LTV stands for - answerLoan to Value Define PMI and state what the acronym stands for. - answerPrivate mortgage insurance- on conventional loans Define one time variable funding fee and people in what situations is i...

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 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:...

NMLS SAFE EXAM QUESTIONS WITH SOLUTIONS What does TILA stand for? Truth-In-Lending Act, Regulation Z What is a HELOC loan? a secured loan in that you are borrowing against the equity that has been built in your house What is a REFI loan? LTV stands for Loan to Value Define PMI and state what the acronym stands for. Private mortgage insurance- on conventional loans Define one time variable funding fee and people in what situations is it waived for? Dis...

What does TILA stand for? - Answer-Truth-In-Lending Act, Regulation Z What is a HELOC loan? - Answer-a secured loan in that you are borrowing against the equity that has been built in your house What is a REFI loan? - Answer- LTV stands for - Answer-Loan to Value Define PMI and state what the acronym stands for. - Answer-Private mortgage insurance- on conventional loans Define one time variable funding fee and people in what situations is it waived for? - Answer-Disabled veterans ...

What does TILA stand for? Truth-In-Lending Act, Regulation Z What is a HELOC loan? a secured loan in that you are borrowing against the equity that has been built in your house What is a REFI loan? LTV stands for Loan to Value Define PMI and state what the acronym stands for. Private mortgage insurance- on conventional loans Define one time variable funding fee and people in what situations is it waived for? Disabled veterans and surviving spouses. USDA loans are also called what? 50...

MIP 302 Exam 1 Questions with Answers All Correct What does a broth being turbid represent? - Answer-bacterial growth within broth Why would you incubate the TSB inoculated with normal flora at 37 degrees? (37 degrees Celsius is equal to 98.6 Fahrenheit) - Answer-37 degrees Celsius is the temperature of human body, therefore this mimics normal conditions for the normal flora Why do invert a plate before incubating it? - Answer-so no condensation from lid drops into bacteria in the hot en...

NMLS Final Exam Questions with Correct A Who is responsible for ensuring that the Closing Disclosure is delivered to the consumer? A.The creditor B.The loan processor C.The consumer D. The CFPB - Answer-A. the creditor Which law restricts the sharing of information given when a consumer applies for a mortgage loan? A. Fair Credit Reporting Act B. FTC Disposal Rules C. Gramm-Leach-Bliley Act D. Consumer Regulatory Protection Act - Answer-C. Gramm-Leach-Bliley Act Which do...

2023/2024 CALIFORNIA REAL ESTATE EXAM ACTUAL EXAM QUESTIONS WITH CORRECT DETAILED ANSWERS WITH RATIONALES & CALCULATIONS /A+ GRADE An appraiser's definition of "Value" would be: a. present worth of all rights to future benefits arising out of ownership. b. the ability of one commodity to command other commodities in exchange. c. relationship between the thing desired and the potential purchaser. d. all of the above. - correct answers d. all of the above. These are elements of value. ...