Cfpb - Study guides, Class notes & Summaries

Who oversees RESPA? correct answers CFPB Who enforces RESPA? correct answers CFPB Who oversees ECOA? correct answers CFPB Who enforces ECOA? correct answers CFPB and FTC Who oversees TILA? correct answers CFPB Who enforces TILA? correct answers CFPB (FTC for advertisement penalties) Who oversees the National Do Not Call Registry? correct answers FCC, FTC Who enforces the National Do Not Call Registry? correct answers FTC Which law regulates the activities of consumer repo...

MLO SAFE Test 2024 (Michigan) with Complete Solutions Dodd-Frank - Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 - Changed oversight & capitalization of financial institutions, added licensing an education standards, and limited riskier products in the marketplace - Established the CFPB - Defined and specifically outlawed UDAAPs CFPB - Consumer Financial Protection Bureau - The Bureau - Oversees and enforces Dodd-Frank specifically to protect consumers fr...

CONSUMER FINANCIAL PROTECTION BUREAU (CFPB) QUESTIONS AND ANSWERS WITH SOLUTIONS 2024

FEDERAL REGULATIONS UNDER CFPB QUESTIONS AND ANSWERS WITH SOLUTIONS 2024

1.) Who does the CFPB protect? 2.) What does the CFPB do? - 1.) The Consumer Financial Protection Bureau protects consumers in the financial marketplace. 2.) 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) - 1.) a.Protect consumers from excessive settlement costs and unearned fees b.Limit the amount...

NMLS Laws And Regulations Exam Questions 2024. CFPB - correct answer Consumer Financial Protection Bureau What does the CFPB do? - correct answer Regulates RESPA, TILA, ECOA, and HMDA FTC - correct answer Federal Trade Commission What does the FTC do? - correct answer Monitors Red Flag Rules RESPA - correct answer Real Estate Settlement Procedures Act What does RESPA do? - correct answer •Protects homeowners of Single, 1-4 family dwellings, condos, & homes manufactured on lot. ...

An appraisal can be completed by which of the following? A home inspector A real estate broker A licensed appraiser using USPAP standards A mortgage loan originator - ANSWERA licensed appraiser using USPAP standards What is a BPO? Broker Price Opinion Best Practice Organization Best Prospective Offer Beyond Present Opportunities - ANSWERBroker Price Opinion Which of the following is incorrect? Farming methods include Direct Mail and Just Listed Post Cards. Farming only invo...

TREC has the authority under TRELA to suspend or even revoke a broker's license if: They conduct the unlawful practice of law ESAC stands for: Education Standards Advisory Committee What refers to a location from an economic rather than a geographic standpoint? Situs. Which amendment guarantees that a citizen will not be deprived of property without due process of law? 5th Amendment. The CFPB is the: Consumer Financial Protection Bureau A professional organization or association is usual...

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 ...

1. Which Foundation board is responsible for USPAP? ANS Appraisal Standards Board (ASB) Appraisal Subcommittee (ASC) Consumer Financial Protection Bureau (CFPB) Appraiser Qualifications Board (AQB) 2. The Appraisal Foundation has the authority to enforce the requirements of USPAP. T or F ANS false The Appraisal Foundation is a private entity. The Foundation and its boards have no enforcement authority in any jurisdiction. 3. Currently, the boards within The Appraisal Foundation inclu...