Term
1. Which regulation is also known as Equal Credit Opportunity Act?
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Definition
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Term
Regulation V is also known as which Act?
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Definition
| Fair Credit Reporting Act FCRA |
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Term
| When was Regulation C implemented into law? |
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Term
When was RESPA implemented? |
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Definition
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Term
Which Regulation(s) were implemented in 1968?
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Term
| What does the SAFE acronym stand for? |
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Definition
| Secure And Fair Enforcement |
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Term
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Definition
| HOEPA, MDIA and higher priced loans |
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Term
| What does the acronym HPA stand for |
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Definition
| Homeowner's Protection Act |
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Term
| Which Act was implemented in 1866? |
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Definition
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Term
| Which Acts were implemented in 2008? |
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Definition
- Housing and Economic Recovery Act
- Mortgage Disclosure Improvement Act
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Term
| What is the full name for FannieMae? |
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Definition
| Federal National Mortgage Association |
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Term
| What is the full name for FreddieMac? |
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Definition
| Federal Home Loan Mortgage Corporation |
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Term
| Which Act is regulated by HUD? |
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Definition
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Term
| Which section on the Federal Exam is the least weighted? |
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Definition
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Term
| Title X of the Dodd-Frank Act is also known as? |
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Definition
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Term
| The Mortgage Reform and Anti-Predatory Lending Act is known as which title under Dodd-Frank? |
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Definition
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Term
| Which are initial disclosures under RESPA? |
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Definition
| GFE, Special Information Booklet |
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Term
| To remain compliant – when must a lender send initial disclosures to the borrower? |
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Definition
| 3 business days from completed application |
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Term
| How long does a lender have to cure overages on the GFE? |
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Definition
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Term
| When is the Servicing Transfer Statement due? |
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Definition
| 15 days prior to transfer |
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Term
At closing, which document will be provided to a borrower who is doing a rate and term reduction? |
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Definition
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Term
| Which RESPA disclosure is due within 45 days of consummation? |
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Definition
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Term
| Which disclosures provides the borrower with an accurate estimate of actual charges? |
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Definition
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Term
| How often will a borrower receive an analysis of their escrow statement? |
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Definition
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Term
| What 6 pieces of information are needed in order to trigger initial disclosures? |
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Definition
PENCIL
property address, estimated value, name, credit/ssn, income, loan amount |
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