NMLS

Under REG Z, the HOEPA amendment requires additional disclosures for “High Priced Mortgage Loans (HPML). For second mortgages this is defined as an APR that is 3.5%% or more higher than the Average Prime Offered Rate (APOR) published by Freddie Mac. For first mortgages it is defined as an APR that is ____% or more higher than the APOR.

The Consumer Financial Protection Bureau was created by

RESPA only covers mortgages on single family detached homes

The Consumer Financial Protection Act combined consumer protection responsibilities under the CFPB from the following agencies EXCEPT the

The Consumer Financial Protection Bureau was created by the

Mortgage bankers fund mortgage loans with all of the following EXEPT

Which legislation designates federal privacy protection and consumer identification requirements under CFPB?

Which government sponsored enterprise (GSE) holds the largest amount of home loan mortgages?

REG B is part of what act?:

The _____ was created in 1933 to insure consumer deposits

REG Z pertains to what act?:

The Mortgage Reform and Anti-Predatory Lending Act (Title XIV under the Dodd-Frank Act) requires MLO's to apply qualified loans as one way to prevent predatory lending practices

Conforming loans follow loan to value and income expense guidelines that are set by secondary market agencies such as

Under FACTA what are the three acceptable means of disposing sensitive customer information?

Mortgage Brokers

Which is NOT a primary lender for residential properties

REG X is part of what act?:

The GFE and early TIL must be provided within ___ after a written application is received.

According to RESPA, all of the following are considered settlement service providers EXCEPT

Any excess of $______ or more in the escrow account must be returned to the borrowers, assuming that the borrower is not delinquent with payments

REG Z applies to all 1-4 family residences

When borrowers and mortgage loan originators come together to negotiate terms and close mortgage loan transactions, this is referred as

Which is NOT a function of the Secondary Market

Which statement about Ginnie Mae is TRUE

Which legislation designates requirements that prohibit predatory lending under CFPB?

The Dodd- Frank Wall Street Reform and Anti-Predatory Lending Act of 2010 established the Consumer Financial Protection Bureau

Which legislation designates federal disclosure requirements under CFPB?

Which entity was established in 1932 as a cooperative to finance housing in local communities