If a home is purchased with an FHA owner-occupied loan, what type of FHA refinance can the borrower use to refinance?
If a borrower and a co-borrower are refinancing a home that they both occupy, at the closing who must receive a copy of the rescission disclosure?
What is not likely to happen if the lender/investor finds fraud?
The CHARM booklet was prepared by:
When is it legal and/or acceptable for the loan originator to provide the consumer with a copy of his/her credit report?
If a loan is a refinance, and the loan is improperly closed and funded in one day with no three day rescission period, how long do the borrowers have to rescind the transaction?
If the file is inactive, for borrower non-performance a declination letter must be sent within?
Which of the following does RESPA require on a purchase?
What is the maximum penalty for providing false information on a federally related loan?
What does HMDA stand for?
What is the objective of FCRA?
What determines whether a property is in a flood zone?
Which is the primary law that affects mortgage loan closings?
How long is flood insurance required?
Which is not an application disclosure?
What are the penalties for violating Section 8 of RESPA?
If a loan officer were to take a loan application Tuesday at 1:00 p.m., what is the last day that the good faith estimate must be mailed or disclosed?
Regulation B allows all of the following except:
How many days in advance of transferring a loan to another lender must the current mortgage servicer inform that customer of the transfer to another lender who will subsequently be servicing the loan?
If an applicant has been denied credit, how long does the lender have to get a letter of adverse action to him/her?
In a face-to-face application, what do you do if the borrower refuses to fill out the race, ethnicity and gender section on Section X of the 1003?
Define "Business day" under the Truth in Lending Act for the three day right of rescission.
How many days prior to this loan transfer does the current mortgage servicer have to inform the customer?1
A yield spread premium is disclosed on which document?
RESPA imposes requirements about or prohibits all of the following except:
Regulation B does which of the following?
HMDA requires the lenders to obtain which of the following information for each borrower?
When is a loan not subject to RESPA?
The practice of getting people to sell their homes at bargain prices by suggesting that certain ethnic groups are going to move into the area is nicknamed:
Under the FCRA, when must credit reporting agencies delete obsolete information?
Which of the following are functions of FACTA? (Select all that apply)
What are the penalties for giving a referral fee to a realtor?
After meeting with the borrowers to complete a loan application, you return to your office and order a Tri-Merged credit report. Now that you have a credit report, what Loan Disclosure must you now prepare and mail (or give) to them?
Which property is exempt under RESPA?
Who provides the Annual Escrow Account Disclosure Statement?
Which is the only authorized site for obtaining your free credit report?
The following two disclosures are required by RESPA, if applicable:
What is not included in the APR calculations?
When is an Affiliated Business Agreement required?
Providing a referral fee to a realtor is?
What is the minimum amount of time that a lender has to inform the borrower that they are transferring servicing?
Which of the following must be provided to the client on an ARM loan?
What law requires the lender to collect borrower information for first mortgages and home improvement loans?
Aggregate escrow requires that the borrower have which of the following?
Which is not part of the original loan application?
If you are a seller, it is acceptable to REQUIRE the use of a specific title provider:
You and the borrower believe an Adjustable Rate Mortgage would be best for the borrower. What is the name of the booklet you are required to give?
