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which federal agency administers Regulation B implementing ECOA, Rgulation C implementig HMDA and Regulation Z implementing TILA? FEDERAL RESERVE SYSTEM the clause in a mortgage that allows the lender to foreclose if the borrower defaults is the Acceleration Clause at closing a borro...
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Add to cartwhich federal agency administers Regulation B implementing ECOA, Rgulation C implementig HMDA and Regulation Z implementing TILA? FEDERAL RESERVE SYSTEM the clause in a mortgage that allows the lender to foreclose if the borrower defaults is the Acceleration Clause at closing a borro...
Primary Mortgage Market Where credit institutions originate loans C. The maximum the rate can increase over the life of the loan When an ARM has rate caps of 5/2/6, the 6 refers to what? A. The maximum rate increase at the initial adjustment B. The start rate for the loan C. The maximum ...
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Add to cartPrimary Mortgage Market Where credit institutions originate loans C. The maximum the rate can increase over the life of the loan When an ARM has rate caps of 5/2/6, the 6 refers to what? A. The maximum rate increase at the initial adjustment B. The start rate for the loan C. The maximum ...
A discount point is BEST described as a charge the borrower pays to: A.) A lender to decrease the interest rate on the mortgage loan B.) A mortgage broker at the time of application to obtain a favorable rate C.) The seller as part of the closing costs of a loan D.) A lender to ensure against ...
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Add to cartA discount point is BEST described as a charge the borrower pays to: A.) A lender to decrease the interest rate on the mortgage loan B.) A mortgage broker at the time of application to obtain a favorable rate C.) The seller as part of the closing costs of a loan D.) A lender to ensure against ...
What law deals with credit, APR & advertising of consumer loans? TILA/REGULATION Z Which regulation prohibits kickbacks? RESPA Which regulations requires the lender to cancel PMI when the loan reaches 78% LTV? HPA - Homeowners Protection Act Which regulation prohibits fee spl...
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Add to cartWhat law deals with credit, APR & advertising of consumer loans? TILA/REGULATION Z Which regulation prohibits kickbacks? RESPA Which regulations requires the lender to cancel PMI when the loan reaches 78% LTV? HPA - Homeowners Protection Act Which regulation prohibits fee spl...
Acceleration Clause Allows lenders to demand payment in full if the borrower defaults on the loan (can be construed as predatory lending) Alienation Clause (Due on Sale Clause) Says you must repay your mortgage if you sell your home to a new owner (loan is not assumable) Appraiser In...
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Add to cartAcceleration Clause Allows lenders to demand payment in full if the borrower defaults on the loan (can be construed as predatory lending) Alienation Clause (Due on Sale Clause) Says you must repay your mortgage if you sell your home to a new owner (loan is not assumable) Appraiser In...
What law deals with credit, APR & advertising of consumer loans? TILA/REGULATION Z Which regulation prohibits kickbacks? RESPA Which regulations requires the lender to cancel PMI when the loan reaches 78% LTV? HPA - Homeowners Protection Act Which regulation prohibits fee spl...
Preview 3 out of 17 pages
Add to cartWhat law deals with credit, APR & advertising of consumer loans? TILA/REGULATION Z Which regulation prohibits kickbacks? RESPA Which regulations requires the lender to cancel PMI when the loan reaches 78% LTV? HPA - Homeowners Protection Act Which regulation prohibits fee spl...
A customer asks his mortgage broker for the name of a good title company. The broker has a list of several companies with whom she has done business with in the past. At what point, according to RESPA, must she give the customer an AfBA disclosure? If the referring party does not have an ownership ...
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Add to cartA customer asks his mortgage broker for the name of a good title company. The broker has a list of several companies with whom she has done business with in the past. At what point, according to RESPA, must she give the customer an AfBA disclosure? If the referring party does not have an ownership ...
Lender The person who is responsible for ascertaining whether or not the Loan Estimate has been provided Terms of Repayment REG Z. Requires that an advertisement must include Proceeds will be used to construct a structure or manufactured home on the real property within two years fro...
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Add to cartLender The person who is responsible for ascertaining whether or not the Loan Estimate has been provided Terms of Repayment REG Z. Requires that an advertisement must include Proceeds will be used to construct a structure or manufactured home on the real property within two years fro...
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