Cfpb Study guides, Class notes & Summaries

An appraisal can be completed by which of the following? A home inspector A real estate broker A licensed appraiser using USPAP standards A mortgage loan originator - ANSWERA licensed appraiser using USPAP standards What is a BPO? Broker Price Opinion Best Practice Organization Best Prospective Offer Beyond Present Opportunities - ANSWERBroker Price Opinion Which of the following is incorrect? Farming methods include Direct Mail and Just Listed Post Cards. Farming only invo...

7. The EIC contacts the supervised entity's management approximately ___ days prior to the scheduled onsite date for the exam to arrange a discussion of the Information Request. a. 30 b. 60 c. 90 d. 120 correct answers B. 60 days Remittance 18. Which of the following must a combined disclosure contain? a. The same contents as the pre-payment disclosure, plus proof of payment b. The same contents as the receipt, plus proof of payment c. The receipt only d. The proof of payment only...

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...

CFPB correct answers Consumer Financial Protection Bureau What does the CFPB do? correct answers Regulates RESPA, TILA, ECOA, and HMDA FTC correct answers Federal Trade Commission What does the FTC do? correct answers Monitors Red Flag Rules RESPA correct answers Real Estate Settlement Procedures Act What does RESPA do? correct answers •Protects homeowners of Single, 1-4 family dwellings, condos, & homes manufactured on lot. •Educates borrowers costs of loan • Eliminates ...

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...

USPAP 15-Hour Course; Questions and Answers (A+) Which Foundation board is responsible for USPAP? A.) Appraiser Qualifications Board (AQB) B.) Appraisal Standards Board (ASB) C.) Appraisal Subcommittee (ASC) D.) Consumer Financial Protection Bureau (CFPB) Answer-B.) Appraisal Standards Board (ASB) The Appraisal Foundation has the authority to enforce the requirements of USPAP. A.) True B.) False Answer-B.) False

CFPB ENFORCEMENT QUESTIONS AND ANSWERS WITH SOLUTIONS 2024

Who oversees RESPA? correct answers CFPB Who enforces RESPA? correct answers CFPB Who oversees ECOA? correct answers CFPB Who enforces ECOA? correct answers CFPB and FTC Who oversees TILA? correct answers CFPB Who enforces TILA? correct answers CFPB (FTC for advertisement penalties) Who oversees the National Do Not Call Registry? correct answers FCC, FTC Who enforces the National Do Not Call Registry? correct answers FTC Which law regulates the activities of consumer repo...

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...