What does respa stand for - Study guides, Class notes & Summaries

What Law deals with credit, APR & advertising of consumer loans? correct answersTILA - REG Z Which regulation prohibits kickbacks? correct answersRESPA Which regulations requires the lender to cancel PMI when the loan reaches 78% LTV? correct answersHPA - Home Owners Protection Act Which regulation prohibits fee-splitting? correct answersRESPA - REG. X "X" is used to describe which Regulation? correct answersRESPA RESPA is the acronym used to describe which law? correct answersR...

Mortgage Loan Originator Exam Latest Update...

SAFE Mortgage Loan Originator Test - National Component with Uniform State Content Exam Questions With Verified Answers What does UST stand for? - answerUniform State Test Who does the CFPB protect? - answerThe Consumer Financial Protection Bureau protects consumers in the financial marketplace. What does the CFPB do? - answerCFPB 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,...

What does UST stand for? - Uniform State Test Who does the CFPB protect? - The Consumer Financial Protection Bureau protects consumers in the financial marketplace. What does the CFPB do? - 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) - a.Protect consumers from excessive settlement costs and unea...

Stringham Real Estate Test Review Exam Questions With 100% Verified Answers. What are real estate licensees required to do when selling a parcel of land but neither lists nor advertises it, what must the sales agent do? - answerDisclose to the buyers and sellers that they have a real estate license What must agents disclose to the principal - answerAll material information about the property and the clients ability to perform in the transaction. What duties does an agent owe a cleint - an...

FREC 1 Questions & Answers | 100% Correct Answers | Verified | Latest 2024 Version What does RESPA stand for? What does it mean? - Real Estate Settlement Procedures Act. Getting someone qualified Wha is real estate brokerage? - Real estate brokerage is the business of bringing together buyers and sellers and owners and renters and completing real estate transactions (paid a fee or a commission for services) 5 major sales specialties - "Residential"- 4 or fewer residential units OR a...

AfBA/ABA stands for? -What is it? - correct answer -Affiliated Business Arrangement -If referring client to another business of yours (1%) then you must disclose ASAP Other ways to say "Doc Signing" - correct answer -Loan consummation -Loan Settlement -Loan Closing What is an escrow account? - correct answer -account holding money for insurance/taxes -AKA "impound account" or "reverse account" -What's an MU4? -What are requirements? - correct answer -Individual application after...

Mortgage Loan Originator Exam Latest Update...

NMLS 2023/2024 Questions and Answers (Already Graded A)NMLS 2023/2024 Questions and Answers (Already Graded A)NMLS 2023/2024 Questions and Answers (Already Graded A)NMLS 2023/2024 Questions and Answers (Already Graded A) -AfBA/ABA stands for? -What is it? - ANSWER--Affiliated Business Arrangement -If referring client to another business of yours (1%) then you must disclose ASAP Other ways to say "Doc Signing" - ANSWER--Loan consummation -Loan Settlement -Loan Closing What is an escr...

FREC 1 Exam Questions & Answers 2023/2024 What does RESPA stand for? What does it mean? - ANSWER-Real Estate Settlement Procedures Act. Getting someone qualified Wha is real estate brokerage? - ANSWER-Real estate brokerage is the business of bringing together buyers and sellers and owners and renters and completing real estate transactions (paid a fee or a commission for services) 5 major sales specialties - ANSWER-"Residential"- 4 or fewer residential units OR agricultural property o...