Tila reg z - Study guides, Class notes & Summaries

NMLS TEST-Affinity Questions and Answers, Graded A+ What law deals with credit, APR & Advertising of consumer loans? TILA Which regulation prohibits kickbacks? RESPA Brainpower Read More Previous Play Next Rewind 10 seconds Move forward 10 seconds Unmute 0:01 / 0:15 Full screen Which regulations require the lender to cancel PMI when the loan reaches 78% LTV? HPA-Homeowners Protection Act Which Regulation prohibits fee splitting? RESPA Regulation X i...

NMLS STUDY GUIDE QUESTIONS 2024. Acceleration Clause - correct answer Allows lenders to demand payment in full if the borrower defaults on the loan (can be construed as predatory lending) Alienation Clause (Due on Sale Clause) - correct answer Says you must repay your mortgage if you sell your home to a new owner (loan is not assumable) Appraiser Independance Requirements replaced HVCC - correct answer home valuation code of conduct Due on Demand Clause - correct answer (Considered a ...

Post licensing 301 NC study questions with 100% Verified Answers Post licensing 301 NC study questions with 100% Verified Answers What triggers TILA, Reg Z or Respa - Answer any # figure like $4000 down or 4.5 APR When first substantial contact has occurred, how long do you have to get WWREA signed? - Answer 3 days When is the last time to sign WWREA with a seller at a listing appointment? - Answer Before the listing presentation begins and before first substantial...

CFPB correct answers Consumer Financial Protection Bureau What does the CFPB do? correct answers Regulates RESPA, TILA, ECOA, and HMDA FTC correct answers Federal Trade Commission What does the FTC do? correct answers Monitors Red Flag Rules RESPA correct answers Real Estate Settlement Procedures Act What does RESPA do? correct answers •Protects homeowners of Single, 1-4 family dwellings, condos, & homes manufactured on lot. •Educates borrowers costs of loan • Eliminates ...

__________ occurs if the lender chooses the hazard insurance company when the borrower allows the policy to lapse. - Forced-placed insurance "APR" means? - Annual percentage rate. This is the cost of credit expressed as a percentage. A borrower is refinancing his home. How much time does Reg Z give him to change his mind? - 3 days A co-borrower whose income is used to qualify must sign the: - Mortgage and the note A deed is: - A legal instrument that conveys title to real property. A fu...

NMLS Test Questions and Answers Graded A+ What is the pass rate for the NMLS Test and how long is it? 75% of 115 questions, 125 questions long with 10 ungraded What is the biggest thing to remember about taking the test? Read the questions twice, slowly, but do not take over 30 seconds per question the first time through. Brainpower Read More Previous Play Next Rewind 10 seconds Move forward 10 seconds Unmute 0:13 / 0:15 Full screen What is the requirement under Fa...

Acceleration Clause - correct answer Allows lenders to demand payment in full if the borrower defaults on the loan (can be construed as predatory lending) Alienation Clause (Due on Sale Clause) - correct answer Says you must repay your mortgage if you sell your home to a new owner (loan is not assumable) Appraiser Independance Requirements replaced HVCC - correct answer home valuation code of conduct Due on Demand Clause - correct answer (Considered a predatory practice) The lender can ...

Acceleration Clause - correct answer Allows lenders to demand payment in full if the borrower defaults on the loan (can be construed as predatory lending) Alienation Clause (Due on Sale Clause) - correct answer Says you must repay your mortgage if you sell your home to a new owner (loan is not assumable) Appraiser Independance Requirements replaced HVCC - correct answer home valuation code of conduct Due on Demand Clause - correct answer (Considered a predatory practice) The lender can ...

ECOA - Reg B - correct answer Equal Credit Opportunity Act HMDA - Reg C - correct answer Home Mortgage Disclosure Act RESPA - Reg X - correct answer Real Estate Settlement Procedures Act TILA - Reg Z - correct answer Truth In Lending Act HPA - correct answer Home-owner Protection Act PMI is required when - correct answer Borrower puts less than 20% down ECOA deals with - correct answer credit applications HMDA allows to see - correct answer where possible discriminat...

Acceleration Clause Answer Allows lenders to demand payment in full if the borrower defaults on the loan (can be construed as predatory lending) Alienation Clause (Due on Sale Clause) Answer Says you must repay your mortgage if you sell your home to a new owner (loan is not assumable) Appraiser Independance Requirements replaced HVCC Answer home valuation code of conduct Due on Demand Clause Answer (Considered a predatory practice) The lender can demand repayment of the loan in full at ...