Term
| What does RESPA stand for? |
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Definition
| Real Estate Settlement Procedures Act |
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Term
| What is RESPA also known as? |
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Definition
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Definition
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| What agency is RESPA enforced by? |
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Definition
| Dept. of Housing and Urban Development |
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Term
| What is the objective of RESPA? |
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Definition
| That the borrower would receive a disclosure about settlement costs (GFE) |
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Term
| What does TILA stand for? |
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Definition
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Term
| What is TILA also known as? |
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Definition
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Definition
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Term
| What organization is TILA enforced by? |
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Definition
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Term
| What is the purpose of TILA? |
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Definition
| Requires disclosures of credit terms, costs, APRs, and rescissions. |
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Term
| What does ECOA stand for? |
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Definition
| Equal Credit Opportunity Act |
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Term
| What is ECOA also known as? |
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Definition
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Definition
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Term
| What organizations enforce ECOA? |
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Definition
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Definition
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Definition
| Office of the Comptroller of Currency |
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Term
| What is the objective of ECOA? |
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Definition
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Term
| What does HMDA stand for? |
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Definition
| Home Mortgage Disclosure Act |
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Term
| What is HMDA also known as? |
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Definition
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Term
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Definition
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Term
| What is HMDA enforced by? |
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Definition
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Term
| What is the purpose of HMDA? |
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Definition
| Data reporting by certain lenders to see if housing needs are being met. |
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Term
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Definition
| Gramm-Leach-Bliley Privacy Act |
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Definition
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Definition
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Term
| What is the objective of GLB? |
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Definition
| Privacy Act - protect credit info |
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Term
| What does SAFE stand for? |
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Definition
| Secure and Fair Enforcement Act |
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Term
| What is SAFE also known as? |
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Definition
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Term
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Definition
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Term
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Definition
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Term
| What does FACT stand for? |
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Definition
| Fair and Accurate Credit Transactions Act. |
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Definition
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Definition
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Term
| What is the objective of FACT? |
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Definition
| Credit reporting and identity theft. Red flag detection. |
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Term
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Definition
| Homeowners Protection Act |
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Definition
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Term
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Definition
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Term
| What is the objective of HPA? |
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Definition
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Term
| What is the Flood Disaster Protection Act also known as? |
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Definition
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Term
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Definition
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Term
| What is the purpose of Reg H? |
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Definition
| Flood Hazard insurance and notional flood insurance program. |
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Term
| What does MDIA stand for? |
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Definition
| Mortgage Disclosure Improvement Act. |
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Term
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Definition
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Term
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Definition
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Term
| What is the objective of MDIA |
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Definition
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Term
| What does HOEPA stand for? |
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Definition
| Home Ownership and Equity Protection Act |
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Term
| What is HOEPA also known as? |
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Definition
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Term
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Definition
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Term
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Definition
| FTC and Federal Reserve Board. |
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Term
| What is the objective of HOEPA? |
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Definition
| Amends TILA. High cost loans and other prohibited practices. |
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Term
| What is FCRA also known as? |
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Definition
| Fair Credit Reporting Act. |
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Term
| What is FCRA also known as? |
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Definition
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Term
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Definition
| 1968 Amended 2003 by FACT |
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Term
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Definition
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Term
| What is the objective of FCRA? |
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Definition
| Credit info and rights of debtors. |
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Term
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Definition
| National Do No Call Registry |
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Definition
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Term
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Definition
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Term
| What is the objective of DNC? |
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Definition
| Telemarketing - 16K fine each violation |
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Term
| When was the Civil Rights Act enacted? |
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Definition
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Term
| Who enforces the Civil Rights Act? |
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Definition
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Term
| What is the objective of the Civil Rights ACt? |
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Definition
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Term
| What does the FHA stand for? |
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Definition
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Term
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Definition
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Term
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Definition
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Term
| What is the objective of FHA? |
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Definition
| Discrimination by race, color, religion, sex, national origination, disability, and familial status. |
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Term
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Definition
| Community Reinvestment Act |
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Definition
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Term
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Definition
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Term
| What is the objective of CRA? |
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Definition
| Lenders compliance and meeting needs of communities. |
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Term
| What does FHLMC stand for? |
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Definition
| Federal Home Loan Mortgage Corp. (freddie Mac) |
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Term
| When was FHLMC established? |
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Definition
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Term
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Definition
| FHFA (Federal Housing Finance Agency) |
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Term
| What is the objective of FHLMC? |
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Definition
| Non-profit Federally chartered. Conduct for sale and purchase of loan |
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Term
| What does FNMA stand for? |
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Definition
| Federal National Mortgage Association (Fannie Mae) |
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Term
| When was FNA established? |
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Definition
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Term
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Definition
| Federal Housing Finance Agency |
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Term
| What is the objective of FNMA |
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Definition
| Non-profit Federally chartered. Purchases FHA, VA & conventional loans. |
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Term
| What does GNMA stand for? |
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Definition
| Govt. National Mortgage assocation. (ginnie may) |
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Definition
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Term
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Definition
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Term
| What is the objective of GNMA? |
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Definition
| Govt. owned, Guarantees principal & interest on FHA & VA loans |
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