Types of mortgage fraud - Study guides, Class notes & Summaries

Section 32 of TILA correct answers Deals with consumer protection triggered by high cost loan scenarios. Deals with added provisions and protections that are required if a loan trips one of two thresholds, or both. 1) Points of fee thresholds 2) APR thresholds Section 10 of RESPA correct answers 1) Includes provisions so that the borrower is informed about the amounts taken for an escrow account and also protects the borrower from being overcharged by requiring an escrow amount analysis ...

property - correct answer the legal right to exclude others from scarce resources that are originally possessed or are acquired without force, theft, or fraud exclusion - correct answer you can exclude those who would interfere with what is yours resources - correct answer anything that someone may need or want, as well as the use of these things property is _______ but not ________ - correct answer absolute; infinite boundaries can be ________ - correct answer ambiguous property ...

CFCI Study Guide – Updated Fraud "Any illegal acts characterized by deceit, concealment, or violation of trust. These acts are not dependent upon the perpetrated by individuals and organizations to obtain money, property, or services; to avoid payment or loss of services; or to secure personal or business ad-vantage." Main types of fraud Internal Fraud Internal Fraud and External Fraud Activities that may be criminal, committed within an organization, typically by the employ...

Hypothecation - correct answer Pledge of collateral to a lender. Debenture Bonds - correct answer An unsecured promise to pay. The Fed influences the economy through what 4 ways? - correct answer 1) Controlling currency circulation. 2) Adjusting amount of funds available within the commercial banking network through "open market operations". 3) Signaling interest rate move...

RMI 2302 Nyce Module 8 Latest Update Graded A+ Business risk Deviations in profitability. This is a very broad category of risk that is caused by operational, hazard, financial, or strategic risks. Business risk can be caused by: • Prices • Regulation • Competition, etc Operation risk Potential losses from internal sources: • Manufacturing processes • Fraud • Mismanagement • Employee mistakes Hazard risk Typically used in insurance industry to describe poten...

What is a Settlement Cost Booklet? - ️️It explains the settlement process and advises borrowers the have the right to negotiate loan terms, reviews RESPA. It also warns borrowers that a borrower's use of false information can lead to loss of home, credit damage, and criminal prosecution for fraud. What loans are exempt from RESPA? (7 types) - ️️-Loans on property 25 acres or more -Business purpose loans including commercial and agricultural -Temporary (interim) financing such a...

CFCI Study Guide 2024 with Complete Solutions Fraud - Answer- "Any illegal acts characterized by deceit, concealment, or violation of trust. These acts are not dependent upon the perpetrated by individuals and organizations to obtain money, property, or services; to avoid payment or loss of services; or to secure personal or business ad-vantage." Main types of fraud - Answer- Internal Fraud and External Fraud Internal Fraud - Answer- Activities that may be criminal, committed within an ...

Foolproof Module 10 notes Questions and Answers Latest Updated Many adults who get a mortgage and buy a home don't have any idea what they are doing. They waste tens of thousands of dollars because they don't know the simple truths you will be learning here. A lot of high school students' lives are hurt because their parents make bad home decisions. What you learn here can help the adults you respect and care about. Here are seven good reasons to buy a house: - You're settled in ...

New York Adjuster Exam Questions and Answers Latest 2024 Graded A+. The insured has moved into a dwelling that was being build and was covered by the "Dwelling Under Construction" endorsement. How long does the insured have to report his / her occupancy to the insurance company? 30 days When a New York Homeowners policy is still in the 60-day underwriting period, the insurer may cancel it for any reason by providing a ______ notice. 30 day Personal property that is covered under the Perso...

NMLS Test Outline Questions and Answers Already Passed RESPA disclosures? due dates? 3 days after application: Home loan tool kit Loan estimate List of HUD counselors Mortgage Servicing Disclosure Statement Know before you owe booklet Special Info Booklet 3 days before consummation: Initial Closing Disclosure AfBA disclosure At consummation: Final Closing Disclosure Initial Escrow Statement (45 days after closing) After closing: Annual Escrow Statement Servicing Transfer Statement (sen...