Cfpb Study guides, Class notes & Summaries

NMLS Laws And Regulations Exam Questions 2024. CFPB - correct answer Consumer Financial Protection Bureau What does the CFPB do? - correct answer Regulates RESPA, TILA, ECOA, and HMDA FTC - correct answer Federal Trade Commission What does the FTC do? - correct answer Monitors Red Flag Rules RESPA - correct answer Real Estate Settlement Procedures Act What does RESPA do? - correct answer •Protects homeowners of Single, 1-4 family dwellings, condos, & homes manufactured on lot. ...

CFPB QUESTIONS AND ANSWERS WITH SOLUTIONS 2024

CFPB Consumer Financial Protection Bureau What does the CFPB do? Regulates RESPA, TILA, ECOA, and HMDA FTC Federal Trade Commission What does the FTC do? Monitors Red Flag Rules RESPA Real Estate Settlement Procedures Act What does RESPA do? •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? Reg...

TREC has the authority under TRELA to suspend or even revoke a broker's license if: They conduct the unlawful practice of law ESAC stands for: Education Standards Advisory Committee What refers to a location from an economic rather than a geographic standpoint? Situs. Which amendment guarantees that a citizen will not be deprived of property without due process of law? 5th Amendment. The CFPB is the: Consumer Financial Protection Bureau A professional organization or association is usual...

HUD Certification 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 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 goal? Find a second job Bo...

NMLS S.A.F.E Exam Practice Questions Enhancing protection and reducing fraud by directing states to adopt minimum uniform standards for the licensing and registration of residential mortgage loan originators was the purpose of the federal act known as the: a. S.A.F.E. Act b. Federal Trade Act c. Consumer Financial Protection Act d. Dodd-Frank Act - a. S.A.F.E. Act Loan processors and underwriters may not: a. Communicate with consumers to obtain information necessary for loan pro...

DODD FRANK ACT AND THE CFPB AND NMLS QUESTIONS AND ANSWERS WITH SOLUTIONS 2024

STATE, CFPB, OR NMLS? QUESTIONS AND ANSWERS WITH SOLUTIONS 2024

ASREB Exam Practice Questions and Answers types of loans - Correct Answer ️️ -FHA loan, Conventional loan, VA loan FHA loan - Correct Answer ️️ -MIP (Mortgage Insurance Premium) Two types (Upfront and Monthly) Conventional loan - Correct Answer ️️ -PMI (Private Mortgage Insurance) Drops off automatically at 78% loan to value (LTV) Ask for removal at 80% loan to value VA Loan - Correct Answer ️️ -Funding Fee based on value USDA loan - Correct Answer ️️ -loan is zero do...

1. Which Foundation board is responsible for USPAP? ANS Appraisal Standards Board (ASB) Appraisal Subcommittee (ASC) Consumer Financial Protection Bureau (CFPB) Appraiser Qualifications Board (AQB) 2. The Appraisal Foundation has the authority to enforce the requirements of USPAP. T or F ANS false The Appraisal Foundation is a private entity. The Foundation and its boards have no enforcement authority in any jurisdiction. 3. Currently, the boards within The Appraisal Foundation inclu...