Nmls champion test Study guides, Class notes & Summaries

NMLS - Champion Test Exam Questions and Answers Which law sets forth escrow requirements for higher priced mortgage loans? - Answer-Truth in Lending Act Which federal act introduced the idea of a qualified mortgage? - Answer-Dodd-Frank Act The federal Truth In Lending Act - Answer-regulates advertising with references to mortgage interest rates. What action would not be considered "adverse action" according to the Fair Credit Reporting Act - Answer-granting a mortgage loan based on...

Which law regulates the activities of consumer reporting agencies and users of consumer credit reports? - Answer-FCRA Which agency manages the National Do Not Call Registry? - Answer-Federal Trade Commission Which act led to the Nationwide Mortgage Licensing System and Registry for the residential mortgage industry? - Answer-The SAFE Act Under ECOA, providing different terms of financing for a potential borrower who has poor credit scores due to a recent bankruptcy is considered? - Answ...

Which law regulates the activities of consumer reporting agencies and users of consumer credit reports? FCRA Which agency manages the National Do Not Call Registry? Federal Trade Commission Which act led to the Nationwide Mortgage Licensing System and Registry for the residential mortgage industry? The SAFE Act Under ECOA, providing different terms of financing for a potential borrower who has poor credit scores due to a recent bankruptcy is considered? Acceptable Which law sets fort...