What does the cfpb do - Study guides, Class notes & Summaries
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Hud Certification Housing Counselor Final Exam 2024
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Hud Certification Housing Counselor 
Final Exam 2024 
Which document is most important when working with a client to develop an initial 
budget as part of a Client Action Plan? 
Pay stub 
Retirement plan statement 
List of assets 
Current lease - CORRECT ANSWER-Pay stub 
A client would like purchase a home within one year. The client is motivated to increase 
household income as a way to save for a down payment and qualify for a loan. Which is 
the best solution for the client to reach this g...
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National Check Payments Certification (NCP) | Questions and answers latest update | verified answers
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What is the purpose of Reg CC - correct answer To implement to Expedited Funds Availability Act and the Check 
21 
What did Check 21 Act do - correct answer Faciliate check truncation by authorizing substitue checks, Foster 
innovation in the check collection system without madating receipt of checks in electronic form, Improve the 
overall efficiency of the Nations Payments system. 
What is the purpose of the FFIEC? - correct answer Prescribe uniform principles, standards, and report forms for ...
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NMLS Exam Questions With Answers Latest Updated 2023-2024 Graded A+
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NMLS Exam Questions With Answers Latest Updated 2023-2024 Graded A+. A lender has how many days to refund excessive variances on a Closing Disclosure? - 
ANSWER 60 days 
Lender has how many days after settlement to refund any portion of charges on the 
HUD-1 that exceeded the acceptable variance - ANSWER 30 days 
TILA disclosure must be given to the applicant within how many days after receiving the 
signed loan application for a reverse mortgage - ANSWER 3 business days 
Truth in lending disclo...
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HUD Certification Exam Questions and Answers 100% Pass
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HUD Certification Exam Questions and 
Answers 100% Pass 
Which document is most important when working with a client to develop an initial 
budget as part of a Client Action Plan? 
Pay stub 
Retirement plan statement 
List of assets 
Current lease - Correct Answer ️️ -Pay stub 
A client would like purchase a home within one year. The client is motivated to increase 
household income as a way to save for a down payment and qualify for a loan. Which is 
the best solution for the client to reac...
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Xinnix SOAR Final questions and answers 100% verified.
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Xinnix SOAR Final questions and answers 100% verified. 
 
 
 
 
 
 
 
 
 
FNMA and FHLMC are what type of loan? - correct rming 
 
the main purpose of the Consumer financial protection bureau (CFPB) is to help consumers understand the terms of their agreements with financial companies - correct 
 
conventional loans are not insured by the federal government - correct 
 
Agency loans include FHA and VA loans - correct 
 
the proceeds of a loan for cash out refinance may be used by the borrower...
Too much month left at the end of the money?
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NMLS Exam Questions With Answers Latest Updated 2024 (Graded A+)
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NMLS Exam Questions With Answers Latest Updated 2024 (Graded A+) A lender has how many days to refund excessive variances on a Closing Disclosure? - 
ANSWER 60 days 
Lender has how many days after settlement to refund any portion of charges on the 
HUD-1 that exceeded the acceptable variance - ANSWER 30 days 
TILA disclosure must be given to the applicant within how many days after receiving the 
signed loan application for a reverse mortgage - ANSWER 3 business days 
Truth in lending disclosure...
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Equal Credit Opportunity Act(ECOA) (Regulation B), Questions and answers/
- Exam (elaborations) • 8 pages • 2024
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Equal Credit Opportunity Act(ECOA) 
(Regulation B), Questions and answers/ 
Equal Credit Opportunity Act (ECOA). - -What does ECOA mean? 
The Consumer Financial Protection Bureau (CFPB) - -Who enforces ECOA? 
that creditors do not discriminatewhen granting credit - they must "Be Equal". - -ECOA is regulation 
"B" and it requires what? 
a "credit application". - -ECOA primarily deals with what? 
race, color, religion, national origin, sex, marital status, age (provided the applicant has a...
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NMLS Exam Practice Questions With Answers - Latest Updated 2023-2024
- Exam (elaborations) • 19 pages • 2023
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NMLS Exam Practice Questions With Answers - Latest Updated 2023-2024. Lender has how many days after settlement to refund any portion of charges on the 
HUD-1 that exceeded the acceptable variance - ANSWER 30 days 
TILA disclosure must be given to the applicant within how many days after receiving the 
signed loan application for a reverse mortgage - ANSWER 3 business days 
Truth in lending disclosure must be delivered within how many business days prior to 
closing a reverse mortgage - ANSWER ...
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NMLS Laws and Regulations Exam Questions with Complete Solutions
- Exam (elaborations) • 36 pages • 2024
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NMLS Laws and Regulations Exam Questions with Complete Solutions 
 
RESPA - Answer-Real Estate Settlement Procedures Act 
 
What does RESPA do? - Answer-•Protects homeowners of Single, 1-4 family dwellings, condos, & homes manufactured on lot. 
•Educates borrowers costs of loan 
• Eliminates kickbacks and referral fees (section 8) 
• Establishes rules for escrow 
 
What Regulation is RESPA? - Answer-Reg X (X-ray of my RESPAtory system) 
 
Who oversees RESPA? - Answer-(CFPB) Consumer Fin...
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HUD Counseling Exam - Module 5 Avoiding Foreclosure SOLUTIONS 100% PASS
- Exam (elaborations) • 13 pages • 2023
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HUD Counseling 
Exam - Module 5 
Avoiding 
Foreclosure 
SOLUTIONS 100% PASS 
what is a servicer? - ANSWER a company that handles all the administrative aspects of 
a loan from the closing to mortgage payoff, including handling all payments, escrow, 
and all documentation for records 
when was the most recent foreclosure crisis? - ANSWER 2007 
what caused the most recent foreclosure process? - ANSWER 1. negative amortization 
2. aggressive marketing of HELOC loans 
3. subprime lending 
4. q...
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