Who does the cfpb protect Study guides, Class notes & Summaries
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CHAMPIONS REAL ESTATE FINANCE GRADED A+ ALREADY PASSED 2023
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Loan-to-Value Ratio (LTV) - correct answer The percentage of the lesser of the appraised value or sales price that the lender will lend. 
 
ex: If a borrower is approved for an 80% loan, it means that the lender will loan up to 80% of the sales price or appraised value, whichever is lower. 
 
Package Mortgage - correct answer Includes both real and personal property ( fixtures and furnishings) 
 
Blanket Mortgage - correct answer Covers more than one piece of property. 
 
Wraparound Mortgage - c...
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SAFE Mortgage Loan Originator Test - National Component with Uniform State Content Questions and Answers Already Passed
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SAFE Mortgage Loan Originator Test - 
National Component with Uniform State 
Content Questions and Answers Already 
 
Passed 
 
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 p...
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SAFE Mortgage Loan Originator Test - National Component with Uniform State Content
- Exam (elaborations) • 35 pages • 2024
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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...
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Champions real estate finance Exam Questions with Verified Answers
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mortgage Broker - Answer- Functions as a middleman between the borrower and the lender, negotiating, selling or arranging loans to be delivered to large investors 
 
Mortgage Banker - Answer- Provide their own funds for the purpose of providing mortgage financing 
 
Correspondent Lender - Answer- Smaller in scale then mortgage bankers or brokers, these lenders typically extended loans with their own funds at their own risk 
 
Origination - Answer- The process of creating a new mortgage loan 
 
U...
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MLO Test Prep | Questions with 100% Correct Answers | Verified | Latest Update 2024
- Exam (elaborations) • 34 pages • 2024
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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...
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MLO Test Prep | Questions with 100% Correct Answers | Verified | Latest Update 2024 | 34 Pages
- Exam (elaborations) • 34 pages • 2023
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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...
-
MLO SAFE Test 2024 (Michigan) with Complete Solutions
- Exam (elaborations) • 57 pages • 2024
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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...
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SAFE Mortgage Loan Originator Test - National Component UPDATED Exam Questions and CORRECT Answers
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SAFE Mortgage Loan Originator Test - 
National Component UPDATED Exam 
Questions and CORRECT Answers 
What does UST stand for? - Correct Answer- Uniform State Test 
Who does the CFPB protect? - Correct Answer- The Consumer Financial Protection Bureau 
protects consumers in the financial marketplace. 
What does the CFPB do? - Correct Answer- 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 s...
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SAFE Mortgage Loan Originator Test - National Component with Uniform State Content (100% Errorless Answers)
- Exam (elaborations) • 25 pages • 2023
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What does UST stand for? correct answers Uniform State Test 
 
Who does the CFPB protect? correct answers The Consumer Financial Protection Bureau protects consumers in the financial marketplace. 
 
What does the CFPB do? correct answers 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) correct answers a....
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MLO SAFE Test 2024 Exam Questions With 100% Correct Answers
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MLO SAFE Test 2024 Exam Questions 
With 100% Correct Answers 
Dodd-Frank - answer- 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 - answer- Consumer Financial Protection Bureau 
- The Bureau 
- Oversees and enforces Dodd-Frank specifically to protect c...
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