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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 ...
Voorbeeld 3 van de 18 pagina's
In winkelwagenA 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 ...
Reg B - ANSWER ECOA Reg C - ANSWER HMDA Reg G - ANSWER SAFE - registered Reg H - ANSWER SAFE - licensed Reg N - ANSWER MAP Rule Reg P - ANSWER GLB Act Reg V - ANSWER FCRA Reg X - ANSWER RESPA Reg Z - ANSWER TILA LE - ANSWER Requires business days to include all days open ...
Voorbeeld 3 van de 25 pagina's
In winkelwagenReg B - ANSWER ECOA Reg C - ANSWER HMDA Reg G - ANSWER SAFE - registered Reg H - ANSWER SAFE - licensed Reg N - ANSWER MAP Rule Reg P - ANSWER GLB Act Reg V - ANSWER FCRA Reg X - ANSWER RESPA Reg Z - ANSWER TILA LE - ANSWER Requires business days to include all days open ...
Who is responsible for ensuring that the Closing Disclosure is delivered to the consumer? A.The creditor B.The loan processor C.The consumer D. The CFPB - ANSWER A. the creditor Which law restricts the sharing of information given when a consumer applies for a mortgage loan? A. Fair Cre...
Voorbeeld 3 van de 22 pagina's
In winkelwagenWho is responsible for ensuring that the Closing Disclosure is delivered to the consumer? A.The creditor B.The loan processor C.The consumer D. The CFPB - ANSWER A. the creditor Which law restricts the sharing of information given when a consumer applies for a mortgage loan? A. Fair Cre...
Primary Mortgage Market - ANSWER Where credit institutions originate loans C. The maximum the rate can increase over the life of the loan - ANSWER 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....
Voorbeeld 4 van de 61 pagina's
In winkelwagenPrimary Mortgage Market - ANSWER Where credit institutions originate loans C. The maximum the rate can increase over the life of the loan - ANSWER 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....
A lender has how many days to refund excessive variances on a Closing Disclosure? - ANSWER 60 days Lender has how many days after settlement to refund any portion of charges on the HUD-1 that exceeded the acceptable variance - ANSWER 30 days TILA disclosure must be given to the applicant withi...
Voorbeeld 3 van de 19 pagina's
In winkelwagenA lender has how many days to refund excessive variances on a Closing Disclosure? - ANSWER 60 days Lender has how many days after settlement to refund any portion of charges on the HUD-1 that exceeded the acceptable variance - ANSWER 30 days TILA disclosure must be given to the applicant withi...
1. Regarding Mortgage Servicing Transfers, what are the number of days that the current mortgage servicer must inform that customer prior to transferring the loan to another lender- who will subsequently service that loan. How many days prior to this loan transfer does the current mortgage servicer ...
Voorbeeld 2 van de 10 pagina's
In winkelwagen1. Regarding Mortgage Servicing Transfers, what are the number of days that the current mortgage servicer must inform that customer prior to transferring the loan to another lender- who will subsequently service that loan. How many days prior to this loan transfer does the current mortgage servicer ...
Dodd-Frank Act what does it do? - ANSWER Wall street reform act which implements MLO compensations and Safe ACT. created after recession Dodd-Frank Act created when? - ANSWER created 2010 SAFE Act - ANSWER Secure and Fair Enforcement for Mortgage Licensing Act SAFE Act - ANSWER Created to s...
Voorbeeld 3 van de 23 pagina's
In winkelwagenDodd-Frank Act what does it do? - ANSWER Wall street reform act which implements MLO compensations and Safe ACT. created after recession Dodd-Frank Act created when? - ANSWER created 2010 SAFE Act - ANSWER Secure and Fair Enforcement for Mortgage Licensing Act SAFE Act - ANSWER Created to s...
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