Cfpb Study guides, Class notes & Summaries

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...

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...

In what ways can the enforcement action be brought to the FTC's attention? - correct answer1. press reports covering the questionable practices 2. complaints from consumer groups of competitors Which agency is responsible for educational privacy? - correct answerDepartment of Education What are some of the ways that the FTC has played a prominent role in the development of US privacy standards? - correct answerThe FTC conducts public workshops on privacy issues, and reports on privacy pol...

CFPB MCT 3 Questions & answers latest update 2024/2025 with complete solution

What is the purpose of Reg CC - Answer To implement to Expedited Funds Availability Act and the Check 21 What did Check 21 Act do - 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? - Answer Prescribe uniform principles, standards, and report forms for the federal exami...

National Check Payments Certification (NCP) Exam Questions & Answers 2024 What is the purpose of Reg CC - ANSWERSTo implement to Expedited Funds Availability Act and the Check 21 What did Check 21 Act do - ANSWERSFaciliate 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? - ANSWERSPrescr...

CFPB MCT 3 Questions &Exam (elaborations) answers 100% satisfaction guarantee

CFPB MCT 3 Exam Review Questions and answers, VERIFIED/ 7. Any time that a credit balance greater than $1 is created in a consumer's account, what must a servicer do? A. Credit the balance to the account and refund the remaining credit balance within 7 days of receiving a written request. B. Credit the balance to the account only, no refund is necessary. C. Credit the balance to the account and refund the remaining credit balance within 10 days of receiving a written request. D...

TRUTH IN SAVINGS (CFPB) QUESTIONS AND ANSWERS WITH SOLUTIONS 2024

CFPB MCT 3 QUESTIONS AND ANSWERS WITH SOLUTIONS 2024

REAL ESTATE SETTLEMENT PROCEDURES ACT (RESPA) (CFPB) QUESTIONS AND ANSWES WITH SOLUTIONS 2024